Alibaba bought a hypermarket chain

Chinese Internet giant Alibaba bought 36% of the Chinese hypermarket group Sun Art Retail. Now, Alibaba has 400 stores in the value of about 2.9 billion dollars. Alibaba is interested in developing its business and moving to a new level. Purchase of a hypermarket chain gives the company new opportunities. The deal will positively affect the growth of the company's stocks.

Over the past few days, Alibaba stocks have grown by 3.5% and will continue to grow on the news. This is an excellent opportunity for traders to make a profitable forecast. Trade will be available during the American trading session, from 14:40 to 21:00 GMT.

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