Alibaba shares benefit from government support on the Chinese stock market

Alibaba shares benefit from government support on the Chinese stock market

According to a report by www.finanzen.net,

Alibaba shares can benefit from good news on the Chinese stock market on Tuesday. The Chinese government plans to support the stock market, and these measures have led to a significant increase in prices on China's stock exchanges. This is also expected to have an impact on the global financial market, particularly Chinese companies such as Alibaba.

Alibaba's share prices rose 6.33 percent in Hong Kong and gains of 3.15 percent were also recorded in US trading. This increase has been supported not only by government support measures, but also by the commitment of co-founders Jack Ma and Joe Tsai, who have purchased hundreds of millions of dollars worth of shares to support the company's shares.

Despite regulatory and geopolitical pressure, Wall Street analyst interest in Alibaba stock remains strong. The stock receives a strong buy recommendation from 18 experts, with an average price target of $118.00, meaning a growth potential of 58.11 percent compared to the last closing price of $74.63.

The Chinese government's support measures have also benefited other Chinese stocks, such as pharmaceutical stocks, whose prices have also risen.

Overall, government support for the Chinese stock market is expected to lead to increased stability in the market, which could have a positive impact on international investors and financial analysts. This could also help increase confidence in Chinese companies and the Chinese market as a whole.