Alibaba (BABA) Stock: Why The Price Jumped Up Today

By Amit Chowdhry ● Mar 18, 2022
  • The stock price of Alibaba (NYSE: BABA) increased by over 8% during intraday trading today. This is why.

The stock price of Alibaba (NYSE: BABA) increased by over 8% during intraday trading today. Investors are responding positively to talks between President Joe Biden and Chinese President Xi Jinping.

During the call, the two leaders discussed Russia’s invasion of Ukraine. President Biden had the objective of convincing China to remain on the sidelines and turn down Russia’s requests for military and economic aid from the Asian country.

And Xi told Biden that the U.S. and China had an obligation to promote peace. And Xi expressed a belief that conflict and confrontation are not in anyone’s interest.

Plus Xi told Biden that the U.S. and China – which are both permanent members of the UN Security Council and the world’s two largest economies – have to lead the development of China-US relations, but also shoulder international responsibilities while making efforts for world peace and tranquility.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.