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Vipshop (VIPS) Stock Jumps as China Stocks Rebound

NEW YORK (TheStreet) -- Vipshop (VIPS - Get Report) stock is up by 6.77% to $18.46 in late afternoon trading on Thursday, after speculation about Chinese government reform propelled China stocks to an eight-week high today.

Based in Guangzhou, Vipshop is an online discount retailer for brands in China.

The Shanghai Composite closed higher by 2.3% to 3,338.07 on Thursday, a gain of 13% from its August bottom, according to the Wall Street Journal.

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Chinese policy makers shared plans to reorganize China's telecom industry, and the market rallied as investors speculated about further reforms, Bloomberg reports.

"The market performed strongly today with the expectations of further [state-owned enterprise] reforms as well as further stimulus giving stocks considerable support," Gerry Alfonso, director of trading at Shenwan Hongyuan Securities, told the Journal.

Separately, TheStreet Ratings team rates VIPSHOP HOLDINGS LTD -ADR as a Buy with a ratings score of...


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