Chinese e-commerce companies were trading higher in Thursday’s pre-market session.
Alibaba Group Holding Ltd BABA announced guidance of 45-49 percent revenue growth in fiscal 2018. The stock was up 13.4 percent into the low-$140 range.
Baozun Inc (ADR) BZUN jumped more than 10 percent to around $25, its highest level since May 16.
JD.Com Inc (ADR) JD was up 5.3 percent on more than 500,000 shares traded to $43.35. The stock is set to open at a new all-time high.
Yahoo! Inc. YHOO, which held a 15 percent stake in Alibaba, is also up 8.9 percent to $55 on 2 million in volume.
In other positive news, China reported stronger-than-anticipated exports and imports for May, "suggesting the economy is holding up better than expected despite rising lending rates and a cooling property market."
ZTO Express (Cayman) Inc. (ADR) ZTO, a major shipping company in China, was up 5.7 percent.
Other Chinese internet companies were also trading higher in the pre-market session:
- Weibo Corp (ADR) WB
- Baidu Inc (ADR) BIDU
- SINA CORP SINA
- Sohu.com Inc SOHU
- NetEase Inc (ADR) NTES
Related Links:
22 Stocks Moving In Thursday's Pre-Market Session
Wayfair Falls As IKEA Announces E-Commerce Expansion To Retail
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