Shares of Alibaba, PDD, and JD.com rose on Friday, with Alibaba leading a 3% gain amid a broader uptick in Chinese internet stocks despite a weak overall market. This move appears driven by sector rotation rather than company-specific news, as Alibaba has no recent announcements. Alibaba remains down 23% year-to-date, pressured by heavy capital spending on AI cloud services despite strong AI revenue growth. Investors should watch if this rally sustains or fades, as the sector's downtrend may continue without fresh catalysts.
As of Sep 18, 2026 21:35 WIB, Alibaba shares on Pluang are trading at USD 113.16, up 4.27% for the day, slightly above the 3% rise noted in the article. The KraneShares CSI China Internet ETF (KWEB), representing Chinese internet stocks, is also up 2.05% at USD 24.90. Despite the gains, Alibaba's market cap remains substantial at $266.42 billion, with a typical hold time of 110 days on Pluang, indicating steady investor interest.
