HANGZHOU, China — Chinese e-commerce stocks got a boost from Alibaba Group Holding Ltd.'s better-than-forecast earnings as investors bet the country's economic slowdown isn't hurting online consumer spending.

American depository receipts of Alibaba rose 4.1 percent to $79.44 at the close in New York, the highest since Aug. 10 and contributing the most to a 0.9 percent gain in the Bloomberg China-U.S. Equity Index. Rival JD.com Inc. jumped 3.1 percent while online retailer Vipshop Holdings Ltd. added 2.6 percent. Alibaba shares are heading for their best month ever after falling to a record low of $57.20 on Sept. 29.

Alibaba reported a 32 percent increase in second-quarter sales as China’s largest e-commerce company captured more of the nation’s shift to mobile shopping. The results showed investors that the selloff had been excessive and may hint at strong earnings also from rival online retailers, according to Brad Gastwirth, chief executive officer of ABR Investment Strategy

“China e-commerce and Internet companies will still do quite well even with the country’s slowing,” said Gastwirth in a phone interview from San Francisco. “It’s purely just a shift of consumers moving from traditional to online."

Resilient Stocks?

Chinese e-commerce shares have tumbled in the U.S. in tandem with mainland-traded shares amid concern that a growth slowdown in the world’s second-largest economy is affecting Internet shopping. Those stocks might instead be resilient to China’s economic climate.

Mobile platforms help capture millions of Chinese consumers’ shopping on smartphones and tablet computers, and Chinese e-commerce companies may record more sales as Singles’ Day, the country’s biggest shopping event, on Nov. 11 approaches. For Alibaba, mobile accounted for 62 percent of its gross merchandise volume in China, with revenue almost tripling to 10.5 billion yuan ($1.7 billion).

China is transitioning from exports and manufacturing toward a domestically driven, consumer-led economy, and the Communist party leaders are gathering this week to formulate policies for the nation's next five-year plan. Consulting firm McKinsey & Co. sees China's annual online-retail sales reaching about $610 billion in 2018, more than Europe and the U.S. combined.

JD.com rose to $27.66 and Vipshop climbed to $20.35, the highest close since Aug. 14. Bloomberg’s ADR gauge advanced to a more than two-month high of 116.99. The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF, the biggest U.S. exchange- traded fund investing in mainland shares, fell 0.6 percent to $35.72.

By Bonnie Cao, with assistance from Taylor Hall. Editors: Nikolaj Gammeltoft, Flavia Krause-Jackson.