U.S.-listed shares of Alibaba and JD.com are on the rise
Investors are hopeful China-U.S. trade tensions could soon ease, after President Donald Trump said the 145% tariff on Chinese imports will drop "substantially." Plus, Treasury Secretary Scott Bessent reportedly told investors there "will be a de-escalation” in trade issues, and that the two countries have the "opportunity for a big deal."
U.S.-listed shares of Alibaba Group Holding Ltd - ADR (NYSE:BABA) and JD.com Inc (NASDAQ:JD) are rising in response. The former was last seen 3.6% higher to trade at $120.08, while the latter is up 1.2% at $34.06.
BABA is pacing for its fourth-straight daily gain, while sporting a 41.9% year-to-date lead. The shares have been trending higher on the charts since pulling back to their lowest level since late January earlier this month, and could today mark their first close above the 20-day moving average since March.
Meanwhile, JD is looking to snap a five-day losing streak. The security still carries a slim deficit for 2025, but maintains a healthy 23.9% year-over-year lead. A familiar floor at the $32 level contained two major pullbacks this month, after also serving as support back in January and November.