ALIBABA LIKELY TO REPORT THIRD QUARTER REVENUE GROWTH – The group was among the top performers with gains larger than 7.5%
China’s Alibaba group is expected to report a growth in revenue in the third quarter on, a day after it posted massive gains and amid a recovery of the country’s retail sector.
The online giant Alibaba was among the top performers with gains larger than 7.5% as battered Chinese stocks leapt to their largest one-day gain in two years.
The yuan also rose on a slew of signals that authorities are strengthening their resolve to support slumping markets.
The rebound comes after the country’s main indices sank to five-year lows in recent sessions on gloom about the sputtering economy and a lack of forceful policy stimulus measures like those rolled out during past crises.
