China Stocks Soar on Government Support and Market Optimism

Chinese stocks surged today following reports that China's sovereign wealth fund would inject cash into the stock market, with Alibaba, PDD Holdings, and JD.com among the winners. Alibaba has faced challenges due to Beijing's crackdown, while PDD Holdings has seen strong growth driven by its social commerce model and international e-commerce site. JD.com, on the other hand, has struggled with slow growth and competition. Investors are hopeful for a turnaround in Chinese stocks, with Alibaba set to report its quarterly earnings tomorrow.