Alibaba and JD.com Stocks Are Rising. Don’t Thank Singles Day Sales Results.

Alibaba


and

JD.com


stocks were rising on Monday, but the price action didn’t seem to be driven by sales results from the closely-watched annual Singles Day event.

Alibaba


(ticker: BABA) was up 2.5% in U.S. premarket trading, with shares in e-commerce peer

JD.com


(JD) gaining 3.5%, beating out futures tracking both the

S&P 500


index and tech stock-heavy

Nasdaq

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