Alibaba (NYSE:BABA) stock is gaining on Friday as a couple of pieces of news have been sending the Chinese e-commerce company’s shares higher.
The first bit of news that investors need to know about is actually affecting more than just BABA stock. Reports out of China claim that the country’s regulators are considering easing up on certain restrictions.
Chief among these is the limit on stakes for foreign investors in publicly traded domestic companies. Reports claim that this move could be part of China’s plan to bolster its stock market as it seeks economic recovery.
China has had a hard time recovering from the Covid-19 pandemic, and that’s weighing on its stock market. Adding to that are the ongoing effects of inflation that are troubling its recovery.
New BABA Stock IPO
Adding to this news is talk that Alibaba’s Cainiao Network Technology is looking to go public soon. This is the logistics division of Alibaba, and reports claim it could list in Hong Kong through an initial public offering (IPO) next week.
If that holds true, it would make Cainiao Network Technology the first of Alibaba’s units to go public. Considering the talk of easing restrictions, an IPO for this business could draw in foreign investors and benefit BABA stock as well.
BABA stock is up 4% as of Friday morning. That comes as some 4.6 million shares change hands. The company’s daily average trading volume is about 16.8 million shares.
Investors looking out for more of the latest stock market news are in the right place!
We’re offering up all of the most recent stock market coverage that traders need to know about on Friday. A few examples include what’s happening with shares of Arm (NASDAQ:ARM) stock, what has Chinese electric vehicle (EV) stocks up today, as well as the latest news affecting Scholastic (NASDAQ:SCHL) stock. You can catch up on all of this news at the links below!
More Stock Market News for Friday
- Is a Giant Short Squeeze Brewing in ARM Stock?
- Why Are Chinese EV Stocks NIO, XPEV, LI Up Today?
- Why Is Scholastic (SCHL) Stock Down 15% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
