Alibaba, JD.com rise as sentiment towards Chinese tech begins to steady
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Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) and several other Chinese tech stocks rose early on Tuesday as sentiment towards the sector began to steady, following a three-day bout of selling.
Alibaba (BABA) gained slightly more than 3% in premarket trading, while JD.com (JD) gained slightly less than 3%.

Other Chinese tech stocks also saw gains, including Baidu (NASDAQ:BIDU), Pinduoduo (NASDAQ:PDD), Weibo (WB), JOYY Inc. (YY) and NetEase (NTES), among others.
On Monday, Chinese tech stocks plunged sharply amid a broader market selloff inflamed by worries of an economic recession and rising inflation.
Last week, Alibaba (BABA) and other Chinese tech stocks soared after the Chinese government approved a second group of domestic licenses for video games, further signs that Beijing is working to support its tech sector.