Alibaba
stock was on a tear Wednesday amid signs that the tough regulatory landscape for Chinese tech stocks—one of two key headwinds facing the sector—is improving. Progress has put investors on a buying streak.
Shares in
Alibaba
(ticker: BABA) jumped 7% in U.S. premarket trading on Wednesday. The group’s Hong Kong-listed stock advanced 8.7%, leading tech stocks across the region higher to help the
Hang Seng Index
close 3.2% higher.
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