Chinese technology stocks, such as the previously underperforming Alibaba, have surged this week, reaching peaks not observed in over a year
The stock surge follows the announcement of stimulus measures by China’s central bank to boost the world’s second-largest economy.
On Thursday 26th September 2024 in the U.S., Alibaba’s shares closed above $100 for the first time since August 2023.
Tencent’s shares ended at their highest point in over two and a half years.