Why Chinese Tech Stocks Alibaba, Tencent, and GDS Holdings Are a Bright Spot in the Stock Market Today
Chinese tech stocks continued to be a bright spot in the stock market as the tech-heavy Nasdaq Composite fell slightly. Chinese officials have signaled they are open to supporting the sector as it becomes increasingly important for the struggling Chinese economy.Shares of Alibaba (NYSE: BABA) had risen 1.7% in the final half-hour of trading. Meanwhile, shares of Tencent (OTC: TCEHY) and GDS Holdings Limited (NASDAQ: GDS) traded 4.6% and 4.1% higher, respectively.Chinese stocks reacted favorably after China's President Xi Jinping held meetings with Chinese tech and start-up leaders in a move indicating a more friendly approach to the sector. The meeting included Alibaba co-founder Jack Ma and DeepSeek founder Liang Wenfeng.Continue reading
Chinese tech stocks continued to be a bright spot in the stock market as the tech-heavy Nasdaq Composite fell slightly. Chinese officials have signaled they are open to supporting the sector as it becomes increasingly important for the struggling Chinese economy.
Shares of Alibaba (NYSE: BABA) had risen 1.7% in the final half-hour of trading. Meanwhile, shares of Tencent (OTC: TCEHY) and GDS Holdings Limited (NASDAQ: GDS) traded 4.6% and 4.1% higher, respectively.
Chinese stocks reacted favorably after China's President Xi Jinping held meetings with Chinese tech and start-up leaders in a move indicating a more friendly approach to the sector. The meeting included Alibaba co-founder Jack Ma and DeepSeek founder Liang Wenfeng.
