News Snapshot:
Shares of Alibaba Group Holding Ltd. BABA, shot up 5.9% in premarket trading Thursday, putting it on track for the biggest gain this year, as an interest rate cut by the People’s Bank of China helped fuel a rally in the U.S.-listed shares of China-based companies. Among other more-active shares of China-based companies, JD.com Inc. JD, jumped 6.7%, Nio Inc. NIO, rallied 2.7%, DiDi Global Inc. DIDI, climbed 3.2%, iQIYI Inc. IQ, gained 4.3%, XPeng Inc. XPEV, rose 2.7% and Baidu Inc. BIDU, gained 5.0%. Meanwhile, the iShares MSCI China ETF MCHI, was up 3.7% while futures ES00, for the...
