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Why Alibaba Stock Is Standing Strong in a Weak Market
Alibaba Group stock was one of the few names rising on Monday, with the wider market seeing a rocky start to December as risk sentiment among investors seemed to take a hit.While the S&P 500 was poised to open 0.7% lower to begin the month, Alibaba's American Depositary Receipts -- or ADRs, essentially its U.S.-listed stock -- jumped 1.5%.It looks like economic pain in China could mean government stimulus from Beijing that could boost Alibaba.Investors were digesting key economic data from China that came out over the weekend. The country's official manufacturing purchasing-managers' index printed at 49.2, with any number below 50 marking contraction, and this being the eighth consecutive month for the index below 50.The non-manufacturing PMI came in at 49.2, below expectations of 50 and marking the first month of contraction in nearly three years."Chinese equities are bucking the risk off elsewhere this morning, possibly on stimulus hopes given the data," noted Jim Reid, a strategist
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