Alibaba shares skyrocket

Alibaba shares soar 12.43 percent 43 percent, from 112.7 to 126.7 Hong Kong dollars, during trading on the Hong Kong Stock Exchange, showing the strongest daily gains since listing in 2019. Then the securities corrected to $ 126.3 (plus 12.07 percent).

The growth of Alibaba and the most important stock exchange Hang Seng Tech Index by 4.5 percent is associated with the decision of the Central Bank of China to reduce the mandatory rate for most banks reserves from next week, allowing them to free up an additional 1.2 trillion yuan ($ 188 billion), Bloomberg writes. Experts hope this is the first step towards ending the crackdown on tech companies.