Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), Baidu Inc ADR Class A (NASDAQ:BIDU) and JD.Com Inc (NASDAQ:JD), are all trading higher amid overall strength in Asia-Pacific names. Strength has possibly been led by upward movement in financials and in sympathy with U.S. market strength.
Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 6.6 trillion/$1 trillion for the fiscal year ended March 2020).
Alibaba operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba shares are trading higher by 2.75% at $224.36 Friday morning.
Baidu is the largest Internet search engine in China with a 75% share of the search engine market in March 2021 as per Statcounter.
Baidu generated 68% of revenue from online marketing services and the rest from other segments in 2020. Baidu is a technology-driven company and has been investing in AI technology, such as autonomously driven cars.
Baidu shares are trading higher by 2.8% at $200.21.
JD.com is China's second-largest e-commerce company after Alibaba in terms of transaction volume, offering a wide selection of authentic products at competitive prices, with speedy and reliable delivery.
JD.com shares are trading higher by 3.7% at $77.69.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!