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The shares of several Chinese companies, including Alibaba Group Holding Limited (NYSE: BABA) are trading higher after the Golden Week holiday in China. In addition, reports suggest that the data has shown that service activity in China has returned to positive levels.
Alibaba and several other Chinese stocks also traded higher during yesterday’s session, amid a comment from Beijing that its diplomat Yang Jiechi’s meeting with the White House’s national security adviser, Sullivan, was constructive.
The company’s shares have risen by around 13.6% in the past 5 trading days.
Alibaba, through its subsidiaries, provides technology infrastructure and marketing reach for merchants, brands, retailers and other businesses to interact with their users and customers in the People’s Republic of China and abroad.
Alibaba stock is trading around 2.8% at $ 160.35 per share on Friday at the time of publication.
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