Chinese E-Commerce Companies Are Gaining On High Volume

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

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