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As Alibaba invests in Chinese firm Haier, should you?
Beijing-based trader Fredrik Oqvist, Founder of ChinaRAI, is looking at Chinese firm Haier Electronics. The company has just received a USD 364 million dollar investment from Alibaba, China’s biggest e-commerce company. The aim of the joint venture is to expand Alibaba’s logistics reach to the millions of consumers in China.
Online retail is booming in China and market leader Alibaba is seeking to develop Haier's distribution network for large-sized goods into a logistics platform that will reach lesser developed cities and which other companies can also use.
Fredrik says that so far the market has responded positively and the stock is up 14 percent. He believes there are long-term growth prospects.
He plans to enter at market, to place a stop 21 and his target is 30.
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