Why did Alibaba shares climb 13% Wednesday? It's because of Ant Group

Jan. 04, 2023 5:40 PM ETAlibaba Group Holding Limited (BABA)BIDU, TCEHY, JDBy: Rex Crum, SA News Editor49 Comments

Alibaba headquarter

maybefalse/iStock Unreleased via Getty Images

  • Alibaba (NYSE:BABA) shares surged nearly 13% Wednesday as Chinese stocks on the whole rallied as Beijing gave the approval to a massive capital increase to financial technology company Ant Group.
  • Prior to the start

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