Why Alibaba Shares Are Rising

Shares of several Chinese companies, including Alibaba Group Holding Limited BABA are trading higher following China's Golden Week holiday. Also, reports suggest that data showed services activity in China returned to positive levels.

Alibaba and several other Chinese stocks also traded higher in yesterday's session amid a Beijing comment that its diplomat Yang Jiechi's meeting with White House National Security Adviser Sullivan was constructive.

The company's stock has increased by approximately 13.6% over the past 5 trading sessions.

Alibaba, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.

Alibaba's stock is trading about 2.8% higher at $160.35 per share on Friday at the time of publication.