Stock pick — Alibaba

Craig Pheiffer from Absa Stockbrokers & Portfolio Management chose Alibaba as his stock pick of the day.

"I've been looking at Alibaba it is one of the stocks in our global equity portfolio, we've been looking to increase that holding of late, just largely on the back of the valuation where it is now. They did have that 2.8 billion dollar fine come through this week and we saw the market jump up positively in response and investors like a bit of certainty."