According to trading data, the shares of the Chinese Internet commerce giant Alibaba Group Holding Limited soared in price by 37% after several days of sales – up to $ 104.98. This growth was the largest one-day increase since 2014 and increased the company's market capitalization by almost $80 billion. The recovery in stocks followed China's promises to maintain market stability, which hints at an end to regulatory measures. Yesterday it became known that Beijing plans to support the listing of Chinese companies abroad. In addition to Alibaba securities, shares of companies also showed growth JD.com , Pinduoduo and Baidu. The Hang Seng, the key index of the Hong Kong Stock Exchange, rose by more than 9%. A little earlier, Alibaba shares have plummeted in price over the past few sessions. This week, they reached a multi-year intraday low of $73.28. Since the beginning of the year, the company's shares have declined by 12% after losing 48% in 2021. The flight of investors from Alibaba shares was facilitated by regulatory risk in China, Beijing's allied relations with Moscow and US demands for disclosure of accounting information, which poses a threat to the delisting of Chinese companies. Moreover, JPMorgan has downgraded Alibaba to UnderPerform twice, calling Chinese Internet companies «unfit for investment» at the moment.
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