Alibaba Group Holding Ltd – ADR (NYSE:BABA) shares are trading marginally higher by 1.57% to $80.05 Monday morning, rebounding following recent weakness. Shares of Chinese companies at large are trading higher, strength may be due to hopes of China easing COVID-era restrictions for travelers in Macau.
What Happened?
Macau’s chief executive Ho Iat Seng has said China would resume an e-visa scheme for mainland travelers and permit group tours, per Reuters.
The report suggests that for the first time in nearly three years, mainland tour groups will resume in November in China’s special administrative region. Currently, Chinese tourists to Macau are required to book a visa appointment…Read More
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According to data from Benzinga Pro, Alibaba has a 52-week high of $182.09 and a 52-week low of $73.28.
