What's Going On With Alibaba Shares

Alibaba Group Holding Ltd - ADR BABA shares are trading higher by 2.51% to $119.60 Friday morning. Shares of Chinese companies are trading higher ahead of the Lunar New Year on hopes of an economic recovery following the recent reopening.

What Else Is Going On In China This Week?

In a rare video speech, President Xi Jinping said China was facing tough times as COVID-19 cases skyrocketed after the government eased curbs last month – one of the most direct acknowledgments of Beijing worsening health crisis. 

Xi, addressing his people on the eve of the lunar new year, called for more efforts to contain the virus amid the increasing spread of Covid-19 to rural China.

The Chinese leader said the country is in the middle of a "fierce" outbreak and its COVID fight needs perseverance as "dawn is just ahead."...Read More

According to data from Benzinga Pro, BABA has a 52-week high of $129.40 and a 52-week low of $58.01.