What's Going On With Alibaba, JD.com And Nio Shares Today?

Alibaba Group Holding Ltd BABA, JD.Com Inc JD and NIO Inc NIO shares are trading higher Monday after the Chinese government announced interest rates would remain unchanged.

What Happened: China kept its benchmark lending rates unchanged Monday, in line with economist expectations, per Reuters.

The report indicates that some analysts are now anticipating that the People's Bank of China will lower the amount of cash required to be set aside by banks in its next policy move. 

China also kept its one-year loan prime rate and its five-year loan prime rate unchanged.

"Despite the April weakness, we do not expect policymakers to unleash major stimulus as the 5% GDP growth target is still well within reach and issues such as property risks and youth unemployment require a more targeted approach," Goldman Sachs economists reportedly said in a new note to clients.

Last week, Alibaba shares traded lower despite beating earnings expectations. The week before, JD shares traded higher on the heels of the company's quarterly results, but the stock has since given up most of its gains. Nio is set to report its first-quarter results before the market opens on June 9. 

See Also: Alibaba's Overhaul Costs And Challenges To Weigh On Stock Near-Term Before Adding Value, Analysts Expect

BABA, JD, NIO Price Action: At time of publication, Alibaba was up 1.71% at $85.42, JD was up 2.25% at $35.85 and Nio was up 2.17% at $8.25, according to Benzinga Pro.

Photo: courtesy of Alibaba.