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Benzinga

Business

Henry Khederian

BIZARRE: Here s why alibaba and bilibili are moving | Mind Blowing Facts

Alibaba Bilibili ADR NYSE Alibaba Group Holding Ltd Bilibili Inc Nasdaq

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA) and Bilibili Inc - ADR (NASDAQ:BILI) are trading higher. A recent buyback raise from Alibaba, quarterly earnings from Tencent Music Entertainment Group (NYSE:TME) and potential market stability measures from China's financial stability and development committee have lifted Chinese equity sentiment.

Alibaba shares are trading higher by 13.7% since the start of Tuesday's trading session after the company raised its buyback program from $15 billion to $25 billion.

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