Chinese e-commerce juggernaut Alibaba Group Holding (NYSE:BABA), also considered a barometer for the country’s tech industry, is up in Thursday’s premarket trading following the U.S. Federal Reserve lowering its benchmark interest rate to spur demand. The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank’s benchmark rate to between 4.75% and 5% Alibaba’s domestic peers PDD Holdings Inc (NASDAQ:PDD), JD.com, Inc (NASDAQ:JD), and Baidu, Inc (NASDAQ:BIDU) stocks are also up. Analysts expect the interest rate cut to drive growth in discretionary spending from U.S. companies. I…