Alibaba Group Holding BABA shares are trading higher on reports the U.S. is expected to allow Americans to continue investing in China-based stock like Alibaba, Tencent TCEHY and Baidu BIDU, according to a Wall Street Journal report.
Earlier this month, the U.S. State Department and Department of Defense officials had been holding discussions on whether to expand its blacklist of companies that are barred from U.S. investments because of ties to China's military.
See Also: How To Buy Alibaba Stock.
Alibaba is the world's largest online and mobile commerce company, measured by GMV. It operates China's most-visited online marketplaces, including Taobao and Tmall.
Alibaba ADR shares were trading up 5.52% at $238.01. The stock has a 52-week high of $319.32 and a 52-week low of $169.95.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
