Alibaba Posts Best Weekly Gain on Shopping Day Outlook
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Alibaba Group Holding Ltd. completed the best weekly rally since its U.S. debut amid prospects holiday-season sales will help bolster the market dominance of China’s largest e-commerce operator.
Alibaba’s American depositary receipts have surged 16 percent in the past five days, the biggest weekly rally after their record $25 billion share sale in New York in September. JD.com Inc., China’s second-largest web retailer, has gained just 3.6 percent this week. The Bloomberg China-US Equity Index slipped 0.4 percent on Nov. 7 for a five-day drop of 2 percent.