"Alibaba's Stock Surges and Bounces Ahead of Earnings Amid Competition Worries"

Alibaba's stock surged ahead of its earnings report, as China-based companies rallied following a sovereign fund's pledge to buy stock index funds to support the market. Nio's stock also bounced sharply off a four-year low, with other electric vehicle makers such as Xpeng Inc. and Li Auto Inc. experiencing significant gains. Despite concerns over softening demand for EVs and increasing competition, Nio reported an 18.2% increase in January deliveries compared to the previous year, but a decline from the previous months.