Alibaba Shares Rose as Chinese Stocks Mixed

Alibaba Shares Rose as Chinese Stocks Mixed

On Thursday, Alibaba group holdings rose 3.77% or 6.29 points to $173.28 per share as Chinese stocks mixed.

The world’s largest online commerce company has a current market capitalization of $439.95 billion with a revenue of $439.95 billion.

In addition, Alibaba holds China’s most-visited online marketplaces, such as Taobao and Tmall.

Meanwhile, Chinese regulators summoned ride-hailing companies, including Didi and Meituan, to resolve non-compliant behavior.

As a result, Meituan shares inched down 0.95% or 2.20 points to $173.28 per share.

Likewise, China’s Shenzhen Component index fell 0.38% or 54.32 points to $14,259.76 per share.

On the other hand, the Shanghai Composite index edged up 0.55% or 19.77 points to $3,586.87 per share.

It is the same with Hong Kong’s Hang Seng index as it plunged 0.10% or 25.51 points to $26,002.78 per share.

The Hang Seng Tech index increased 0.64% or 43.00 points to $6,767.00 per share.

Consequently, Tencent Holdings improved 1.15% or 6.40 points to $494.60 per share.

Furthermore, Asia-Pacific stocks are also mixed as Australia reported an $8.93 billion trade surplus, higher than the expected $7.53 billion in July.

However, the S&P/ASX 200 plummeted 0.55% or 41.40 points to $7,485.70 per share.

In the Tokyo Stock Exchange, the Nikkei 225 index jumped 0.33% or 92.49 points to $28,543.51.

Japan’s broader TOPIX index also climbed 0.14% or 2.78 points to $1,983.57 per share.

Meanwhile, the KOSPI of South Korea inched down 0.86% or 27.59 points to $3,179.43 per share.

US Stocks Surge, Nasdaq 100 Hit New High

Furthermore, US stocks surged as Nasdaq 100 reached a new record high, strengthening its huge gains last month.

The tech-heavy index soared 0.19% or 29.05 points to $15,611.56 per share.

Pinduoduo Inc., China’s largest agriculture-focused tech firm, topped the gains with a 6.81% hike to $106.83 per share.

Likewise, Netflix hiked 2.26% or 12.28 points to $582.07. Also, Apple Inc. improved 0.45% or 0.68 points to $152.51.

Consequently, Dow Jones Industrial Average futures inched up 0.05% or 0.28 points to $541.31 per share.

Then, the S&P 500 also rose 0.03% or 1.41 points to $4,524.09 per share.

Moreover, ChargePoint, an electric vehicle company, soared 12.81% or 2.72 points to $23.95 per share.

The company reported a $56.1 million quarterly revenue, jumping from the $49.1 million expected.