BABA trade by at $114 as I write this. That's almost a 50% gain from its past low of $80. It's been one of my best stocks YTD, same with TCEHY though bit to the same extent.
This is my third time making a bullish China post, every time I do the stocks subsequently fall so maybe this is an indication to sell if you want to lock in short term gains.
That said, I'm gonna hold for the long term. I believe that China's growth will reaccelerate. Happy to hear opinions from bears, but I'm very familiar with the VIE structure of some of these stocks and how China is a dictationship etc etc. you won't likely change my mind.
Consider FXI for a diversified China fund that does own shares on the Hong Kong exchange.