Jack Ma’s Ant to Apply for Key License as Soon as This Month

The People’s Bank of China intends to accept Ant’s application to become a financial holding company once it’s submitted and will then start a review process, which could take months, said the people, asking not to be identified discussing a private matter. Officials will examine Ant’s capital strength and business plans, as well as the … Read more

June’s Looking Like a Game Changer for Beleaguered China Stocks

“The recovery rally is far from over in our view, and the suppressed demand and backlog in orders from the lockdown will bring about a big spike in activity in coming months,” said Hua Tong, a fund manager at Shenzhen Zhengyuan Investment Co. “Looking back at the early second quarter, the pessimism was overdone. It’s … Read more

Alibaba Shares Jump as China Considers Reviving Ant Group IPO

Alibaba, which owns a thrid of Ant, gained as much as 7% in premarket trading, reversing a decline of more than 5%. Other large-cap Chinese internet stocks also pared losses on the news. The KraneShares CSI China Internet Fund, an exchange-traded fund that tracks Chinese tech stocks, rose 1% after a three-day surge of 15%.