Here's Why Alibaba And Bilibili Are Moving

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE: BABA) and Bilibili Inc - ADR (NASDAQ: BILI) are trading higher. A recent buyback raise from Alibaba, quarterly earnings from Tencent Music Entertainment Group (NYSE: TME) and potential market stability measures from China's financial stability and development committee have lifted Chinese equity sentiment.

Alibaba shares are trading higher by 13.7% since the start of Tuesday's trading session after the company raised its buyback program from $15 billion to $25 billion.

See Also: Alibaba Ups Share Buyback Target To $25B: What You Need To Know

Alibaba is trading higher by 2.3% at $117.64. Alibaba has a 52-week high of $245.69 and a 52-week low of $73.28.

Bilibili is trading higher by 7.4% at $32.12. Bilibili has a 52-week high of $129.24 and a 52-week low of $14.93.