Alibaba, Tencent rally as Beijing stimulus plans push China's tech stocks to 13-month high
BABABABA(BABA) CNBC·2024-09-27 16:54

Alibaba closed above $100 per share for the first time since August last year in the U.S. on Thursday, after surging 10% during the session. On Friday, the company's Hong Kong-listed stock reached its highest close since February 2023, up nearly 5% to 102.50 Hong Kong dollars. The e-commerce giant's shares in Hong Kong are around 18% higher this week.The Hang Seng Tech Index in Hong Kong, which contains most of the big Chinese tech stocks, closed up nearly 6% at its highest level since early August 2023. Th ...