US-listed shares of Alibaba and other Chinese tech stocks rose 12% after China's Politburo reportedly said it would introduce measures to support the tech sector.
US-listed shares of Alibaba and other Chinese tech stocks rose 12% to $101.56 in premarket trade, moving above $100 for the first time since April 12, according to Business Insider. China's decision-making committee, the Politburo, reportedly said it will "introduce specific measures" to support the tech sector.
The question addressed both China and Russia, touching on the recent Ukraine invasion, but neither Munger nor CEO Warren Buffett touched on the latter. The pair did touch on Russia earlier, discussing how the increased threat of nuclear weapons following Russian President Vladimir Putin’s recent tests might impact Berkshire’s insurance operations.
Munger said the company "doesn’t have "any way of predicting if there’s going to be a nuclear attack."
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