On June 2, we reported than Alibaba opened operations in Russia. On June 14, Xinhua news agency noted that “Alibaba has expressed interest in doing business in Latin America with a particular eye on Mexico, Brazil and Argentina.” Today, according to Cloud News Asia, we read that Alibaba has managed to secure some cloud computing government related deals. There is no week Alibaba would not surprise investors positively and here is the latest story …
If you are looking to gain exposure to Alibaba consider the following exchange-traded funds (ETFs), which have added the stock to their holdings: $FPX, $IPO, $KWEB, $EMQQ.
Treading on new territory, Alibaba Group Holding Ltd. stock has been hovering in negative territory year-to-date. Reuters reports, according to experts, Alibaba’s ambitious expansion plans are paving way for an upward trend. Although Alibaba’s cloud computing service Aliyun is new, it has found a support system in the Chinese government. Alibaba bagged a cloud computing deal with the port city of Dalian in China. Based on the accords of the deal, Alibaba will be receiving assistance to set up a cloud computing center. Additionally, Alibaba will also be offering government services online.
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