BUZZ-Alibaba Hong Kong shares climb on Manus AI partnership deal

Reuters2025-03-12
BUZZ-Alibaba Hong Kong shares climb on Manus AI partnership deal

** Hong Kong shares of Alibaba 9988.HK climb 3.3% to HK$138, on course for their biggest one-day gain since March 6

** Stock on track to snap three straight sessions of decline

** U.S.-listed stock BABA.N rose 4.9% on Tuesday

** China's Manus AI announced on Tuesday a strategic partnership with the team behind tech giant Alibaba's Qwen AI models, a move that could bolster the artificial intelligence start-up's roll-out of what it called the world's first general AI agent

** The partnership with Qwen could help Manus deal with the surge in traffic and expand its user base, while Alibaba looks to gain an edge over competitors like DeepSeek

** Hang Seng Tech Index .HSTECH climbs 0.6%, Hang Seng Index .HSI gains 0.1%

** YTD, Hong Kong stock up 66.3%, U.S. shares up 64%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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