Just days ago, China’s Shanghai Stock Exchange, or CSI 300, risked trading at lows not seen since 2015-16. The government posted that its economy grew by 5.2%. However, experts questioned the accuracy of the data. Exports to Europe and the U.S. are falling. .
Alibaba (NYSE:BABA), the Chinese tech giant, disappointed investors in 2023 while many of its American counterparts delivered strong returns. Alibaba stock has declined almost 40% in the last 12 months, but new catalysts have emerged to drive the stock higher in 2024. Although regulatory risks need to be monitored carefully, I am bullish on Alibaba stock. SoftBank Finally Completes Divesting Alibaba SoftBank (OTC:SFTBF), the Japanese investment firm led by billionaire Masayoshi Son, was one of t