Alibaba Group Holding Ltd BABA shares are trading higher Monday as Chinese regulators prepare to complete their investigation of ride hailing company DiDi Global Inc DIDI with a seemingly positive outcome.
According to a Wall Street Journal report, China is set to conclude its yearlong regulatory probe into DiDi as soon as this week.
China’s deteriorating economic outlook has reportedly pressured regulators to ease its antitrust campaigns. Moreover, regulators have indicated that they did not find any significant issues with DiDi or the other companies during the investigation. If the bans on DiDi are lifted, the company would reportedly be allowed to add new users to its platform and list its application in app stores once again.
Related Link: Here's Why DiDi, And These Two Chinese Stocks Are Trading Higher Today
Alibaba operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
BABA Price Action: Alibaba shares have traded between $73.28 and $230.89 over a 52-week period.
The stock was up 7.49% at $100.11 at time of publication, according to data from Benzinga Pro.
Photo: courtesy of Alibaba.
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