Shares of Chinese tech stocks Alibaba (BABA) and JD.com (JD) are trending up as the market pulls back, with Chinese leaders announcing this week that they will take new measures for further stimulus to support growth in the economy. So far, China has already given out $112 billion (800 billion yuan) to commercial lenders for 1-year loans.
Additionally, shares of Chinese EV maker XPeng (XPEV) dropped 7% on Friday after a filing revealed shareholder Alibaba would sell $25 million worth of stock owned by its Taobao business segment.
Lennar (LEN) stock falls after posting fourth-quarter results which showed gross margin home sales falling short of estimates.
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