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Why Shares of Alibaba and JD.com Are Rising Today

TheMotleyFool

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Why Shares of Alibaba and JD.com Are Rising Today: https://g.foolcdn.com/editorial/images/714425/generic-upward-10.jpg

Shares of Chinese tech giants Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD) rose today after the Chinese government said they plan to further ease COVID-19 restrictions. Shares of Alibaba and JD both traded more than 3% higher as of 11:35 a.m. ET.

The Chinese economy all year has been plagued by China's "zero-COVID" policy, which sought to prevent the spread of the virus as much as possible and included wide-scale lockdowns in major cities that really hurt economic growth this year.

But in recent months, the Chinese government has begun to ease these policies in order to boost the economy.

Source Fool.com

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