Alibaba, JD.com, PDD Stocks Climb Monday After Brutal October for Chinese Stocks: What’s Going On?

Alibaba Group Holding Limited (NYSE:BABA), JD.com, Inc. (NASDAQ:JD) and PDD Holdings Inc. (NASDAQ:PDD) are trading higher Monday after a report that China’s central bank and securities regulator will meet to discuss tools designed to support the country’s capital market.

• Alibaba stock is trading at elevated levels. What should traders watch with BABA?

China Regulators, Central Bank to Meet on Stock Market Support Measures

According to Bloomberg, the People’s Bank of China will meet with the National Financial Regulatory Administration, the China Securities Regulatory Commission and major banks on Monday to study how to improve a relending program for share buybacks and stake increases. Bloomberg cited a report Sunday from Cailian, which cited people in the industry. Some securities firms and funds have received notices about the meeting, according to the 21st Century Business Herald, as cited by Bloomberg. The newspaper said industry participants speculated that the meeting was likely preparation by financial regulators for further action to stabilize the market.

The Meeting Follows China’s Worst Month for Stocks in More Than a Decade

Bloomberg said a state-backed effort would add to steps China took last month to stabilize its equity market. Those measures have so far proved insufficient, Bloomberg reported, against the backdrop of a weak domestic economy and doubts over AI earnings, with Chinese stocks suffering their worst month in more than a decade. The CSI 300 Index fell into a bear market in October, dropping 8.5% and falling for a record 12 straight weeks. Bloomberg also noted that China’s official manufacturing and non-manufacturing purchasing managers’ indexes fell back into contraction in October.

BABA, PDD, JD Trade Higher

Price Action: At the time of publication, Alibaba stock is trading 5.70% higher at $103.63, PDD shares are trading 5.41% higher at $82.87, and JD shares are trading 3.23% higher at $26.51, according to data from Benzinga Pro.

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