Here's Why Alibaba And Bilibili Are Moving

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR BABA and Bilibili Inc - ADR BILI are trading higher. A recent buyback raise from Alibaba, quarterly earnings from Tencent Music Entertainment Group TME and potential market stability measures from China's financial stability and development committee have lifted Chinese equity sentiment.

Alibaba shares are trading higher by 13.7% since the start of Tuesday's trading session after the company raised its buyback program from $15 billion to $25 billion.

See Also: Alibaba Ups Share Buyback Target To $25B: What You Need To Know

Alibaba is trading higher by 2.3% at $117.64. Alibaba has a 52-week high of $245.69 and a 52-week low of $73.28.

Bilibili is trading higher by 7.4% at $32.12. Bilibili has a 52-week high of $129.24 and a 52-week low of $14.93.