US-listed shares of Chinese tech giant Alibaba Group (NYSE:BABA) Holding Limited closed out Wednesday about 13% higher on optimism that the Chinese government's crackdown on the internet sector has ended. TickMill Group market analyst James Harte noted that the lift in bullish sentiment was in reaction to the news that Chinese regulators have approved a request by Ant Group, an affiliate company of Alibaba, to increase the registered capital for the company's consumer section to 18.5 billion yuan (about US$2.7 billion). "Alibaba CEO Jack Ma had fallen foul of the government, leading to much stricter business conditions for the group which drove stock prices lower into the pandemic," Harte said.