What's Going On With Alibaba Stock Friday?

Alibaba Group Holding Limited BABA stock is trading higher on Friday, inversely with broader index ETFs like IShares China Large-Cap ETF FXI and KraneShares Trust KraneShares CSI China Internet ETF KWEB.

China is considering more robust measures to address local government debt crisis risks. Still, according to analysts, opportunity costs are rising when it comes to curbing systemic risks in the state-dominated financial system.

The financial system is already under pressure from property woes over the past few years, and analysts have warned against colossal costs lest Beijing timely resolves the real estate market crisis, SCMP reports.

U.S. Deputy Treasury Secretary Wally Adeyemo acknowledged that the U.S. economy is well positioned to weather headwinds arising from China's economic weakness.

Adeyemo acknowledged China's faltering growth amid a worsening property slump, weak consumer spending, and tumbling credit growth.

He linked China's woes to its COVID-19 policies. 

Meanwhile, the U.S. has extended its one-year exemption, permitting South Korean and Taiwanese chipmakers to transact with China.

Price Action: BABA shares traded higher by 0.29% at $89.33 premarket on the last check Friday.