Alibaba has expanded its share buyback program to $25 billion worth of stock over the next two years. Many analysts are pointing to shifts in the Chinese regulatory environment as the catalyst for this move.
Stocks in China’s technology and electric vehicle sectors shot up on Wednesday. This might be attributed to government statements released yesterday, which signalled a shift in tone and prioritisation of support and stability on the part of the government for China’s domestic firms.
Markets across Asia dropped sharply on Thursday following further indications of the Federal Reserve’s hawkish turn. Many are concerned about the shift in American monetary policy’s potential implications for stocks in Asia.