06:47 AM EDT, 09/27/2024 (MT Newswires) -- JD.com ( JD ) and Alibaba ( BABA ) shares surged after China's central bank announced measures to stimulate the domestic economy this week.

JD.com ( JD ) shares closed up almost 14.4% at $37.99 on Thursday and was trading 3.4% higher in recent premarket trading.

Alibaba ( BABA ) shares surged 10% on Thursday, closing at $105.07.

The People's Bank of China this week reduced interest rates and the reserve requirement ratio for banks. The central bank also extended relief initiatives for two years and lowered interest rates on existing mortgages as part of the measures to support the domestic property market.

Price: 38.93, Change: +0.94, Percent Change: +2.47