Alibaba Shares Jump, on Track for Biggest Daily Gain in 10 Months
Dow Jones07-08 14:27
0627 GMT - Alibaba Group shares rise sharply in Hong Kong trading, on track for their biggest daily percentage gain since September 2025. Shares jump 12% to HK$107.70, paring year-to-date declines to 25%. The gain comes alongside broader advances by the tech sector, with the Hang Seng Tech Index rising 5.2%. The entire Chinese internet sector is gaining, likely due to portfolio rebalancing from the outperforming AI hardware sectors into laggard segments, says Jialong Shi at Nomura. Shi adds that markets are starting to recognize Alibaba's potential in the AI cloud field. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
July 08, 2026 02:27 ET (06:27 GMT)
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