Shares of Baidu, Alibaba, and JD.Com are higher today
Baidu Inc (NASDAQ:BIDU) stock is up 2.1% to trade at $99.99 at last check amid growing robotaxi demand, but it’s not the only China-based name rallying today. Shares of Alibaba Group Holding Ltd – ADR (NYSE: BABA) and JD.com Inc (NASDAQ:JD) are on the rise as well, last seen up 3% and 5.7% to trade at $78.31 and 28.28, respectively.
BIDU hit its highest level since late May earlier, following a bounce from a July 7, 52-week low of $86.87. The shares are also on track for their third-straight daily gain and eyeing their first close above the 80-day moving average in over a month. For 2024, BIDU remains down 15.7%.
BABA staged a bounce of its own off the $70 level, which contained a pullback from a May rally that fell short of $90. The shares are also eyeing their third consecutive win and close above the 80-day trendline. Year over year, BABA carries a 16% deficit, but managed to swing above its year-to-date breakeven today.
Despite today’s pop, JD.com stock is running into pressure at its own 80-day trendline. The $36 level capped the equity’s May rally, though a familiar floor at $25 swooped in to prevent further losses. The security dropped 24.5% over the past 12 months, and carries a slim 2.1% deficit so far this year.