According to foreign media, Alibaba shares rose 1.69% on Wednesday after a strong rise of 4.49% on Tuesday. At the close of the session, the share price reached US $195.53, and even reached US $198.86 at the intraday peak, breaking the record of the highest closing price set the previous day and the highest closing price since Alibaba's IPO in September 2014. With the stock price hitting a new high, Alibaba's market value has reached an all-time high. At present, Alibaba's market value has reached $501.7 billion, which is also the seventh company in the world with a market value of more than $500 billion. The other six companies are Apple, Alphabet (Google), Microsoft, Amazon, Tencent and Facebook.

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