Alibaba gains on report China PBOC accepts Ant application for financial holding co.

Alibaba gains on report China PBOC accepts Ant application for financial holding co. Jun. 17, 2022 8:19 AM ET [Alibaba Group Holding Limited (BABA)](/symbol/BABA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABABA) By: [Joshua Fineman](/author/sa-editor-joshua-fineman?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews) , SA News Editor [6 Comments](#comments) [Alibaba Group Holding Limited (BABA)] By: [Joshua Fineman] , SA News Editor [6 Comments] – Alibaba (NYSE: [BABA] ) rose almost 10% in premarket trading on a report that China’s central bank accepted Ant Group’s application to set itself up as a financial holding company. – The PBOC accepted Ant’s application this month, according to a [Reuters report] . The news signals that the Ant may gets…