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Alibaba, JD.com stocks rally as China moves to lift COVID lockdowns

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Yahoo Finance Live anchors discuss China stocks as Shanghai takes steps toward easing COVID-19 lockdowns.

Video Transcript

BRAD SMITH: Also, though, let's talk about this very briefly here. As COVID lockdowns ease up across China, shares of some of the US-listed Chinese stocks-- Alibaba, JD.com, for instance-- they are making ground in hope of erasing their monthly losses. Here with more-- well, actually, no. With more reopenings occurring across the country. We're here with more. With those reopenings across the country, quite frankly, we could possibly see a strong month ahead for the China stocks.

Tossing to ourselves here is what I was doing there. But I think, ultimately, at the end of the day, this is a story about kind of fulfillment. When we think about all of these brands-- JD.com, Alibaba-- fulfillment, being able to have kind of full operating procedures back in motion after some of the lockdowns that had taken place. And there was actually a stat from Henry Ren over at Bloomberg noting that the NASDAQ Golden Dragon China index, 81 Chinese stocks in the US, that was down 1.1% in May through Friday. And the close on Friday, a failure to reverse the loss would result in, actually, the index's seventh monthly drop-- longest streak since 2001.

BRIAN SOZZI: You know what excites me more than Alibaba as a company? Sitting on my lawn and watching grass grow. It's just one of those black-box type of companies. You never truly know what, in fact, they're doing. They have cloud operations, retail operations. And your point well taken on these openings. You're going to see a sentiment lift in these beat-up Chinese stocks. But I look at Deutsche Bank. They're also out cutting their price target on the likes of Alibaba, citing, quote, "near-term challenges and economic uncertainties in their business."

I get the rally here a little bit. But still, again, you're going to have to think it's going to be about a year before this company's fundamentals turn around.

BRAD SMITH: Yeah. I mean, if you don't want to watch your grass grow, you can just watch your paint dry. Sherwin-Williams stock is up big pre-market from last I checked.

BRIAN SOZZI: Love their paint.

BRAD SMITH: Yes.

BRIAN SOZZI: Big fan.

BRAD SMITH: So we'll keep tracking that one, for sure.