One Reason Alibaba (BABA) Stock Closed Higher

NEW YORK (TheStreet) -- Shares of Alibaba (BABA) closed up by 1.5% to $88.89 on Wednesday after founder and Executive Chairman Jack Ma said that tensions between the U.S. and China over accusations of state-sponsored hacking and land claims in the South China Sea will eventually ease, according to CNBC.

"If we work together, that will make us understand each other, appreciate each other, help each other," Ma told CNBC. "I'm pretty confident."

One of the ways the two countries can work together is through better cross-border dialogue, he said, as he expects the younger tech-savvy generation to lead this change.

Additionally, Ma is touring the U.S. this week to pitch his platform to American businesses, as the Chinese e-commerce firm is looking to expand internationally.

BABA Chart BABA data by YCharts

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