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Investors in Chinese stocks, long-accustomed to pain, have just seen an astonishing turnaround. What comes next?
Shares in Chinese tech giants Alibaba (ticker: BABA) and JD.com (JD) both notched eye-watering gains on Wednesday, climbing 37% and 39%, respectively. It was, by far, the most those two stocks have ever risen in one day, trouncing relatively paltry previous records of less-than 15% daily jumps. Alibaba stock has fallen 5.3% on Thursday, while JD.com has declined 4.1%.