On Monday, August 28, the U.S. markets closed higher, with most sectors on the S&P 500 closing on a positive note.
The manufacturing general business activity index for Texas, as reported by the Federal Reserve Bank of Dallas, increased to -17.2 in August, surpassing the anticipated value of -21.6.
Alibaba (NYSE: BABA) Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.
China's Ministry of Finance reduced its "stamp duty" on securities transactions to 0.05% over the weekend — an effort to spur market activity and boost sentiment.
On Friday, August 25, the U.S. markets closed higher after Federal Reserve Chair Jerome Powell's Jackson Hole Symposium speech, where he indicated a willingness to raise interest rates when necessary.
All key S&P 500 sectors increased, with consumer discretionary, technology, and energy as top gainers.
Hong Kong-listed shares of the world’s most indebted property developer, China Evergrande Group (OTC:EGRNF), nosedived as much as 87% on Monday, resuming…