However, Alibaba's valuations are likely being compressed by the murky outlook for its domestic e-commerce marketplaces, the impact of tariffs and trade wars on consumer and enterprise spending in China, and tighter export curbs on its overseas chips. But its stock could quickly command a much higher valuation if any of those headwinds dissipate.

Progress on US-China trade over the weekend sent stocks soaring on Monday. Some top commentators say tariffs are still a big risk.

Stocks fluctuated Wednesday, with investors struggling to track a strong day on Wall Street as euphoria over the China-US trade detente petered out. "We have the confines of a very, very strong deal with China.

Leaders are thriving amid a rangebound market. Tesla topped an entry. Palantir is setting up. U.S.-China trade talks loom.

Focus this week will also be on earnings from Alibaba on Thursday. Data on Tuesday showing softer-than-expected U.S. consumer inflation also provided some relief to investors worried about the inflationary impact of U.

Paytm shares plunged 5% following reports that Ant Financial, a subsidiary of Alibaba Group, sold a 4.1% stake in the company through a block deal val