November 24, 2025 — Alibaba Group-W (09988.HK) saw a significant surge in its stock price during early trading today. As of 14:10, the stock price was reported at HKD 156.000, up 5.69% for the day. The stock hit an intraday high of HKD 156.300, with the opening and lowest points recorded at HKD 147.800. From the intraday chart, it’s clear that after a quick rally in the morning, the stock maintained strong support, with a trading volume of 131 million shares and a turnover of HKD 20.011 billion. The high trading volume and active investor sentiment reflect the market's positive outlook, particularly within the tech sector.

(Image Source: uSMART HK App)

Tech Sector Sentiment Rebounds; Alibaba Outperforms Blue-Chip Stocks

In the context of a broader rebound in Hong Kong’s tech sector, Alibaba has emerged as a key focus for investors in the blue-chip tech space. The market has become increasingly optimistic about themes such as cloud computing, artificial intelligence, and data-driven reforms. As a result, investors are re-evaluating the long-term value of large tech enterprises. The overall policy support for the digital economy, coupled with Alibaba's optimization of its business structure and acceleration in AI investments, is creating new growth opportunities. Recently, the company has made significant progress in cloud services, AI models, and commercial applications, particularly its expanding AI model ecosystem and enterprise AI solutions. These innovations have fostered a positive market outlook on its future profitability and growth potential. The combination of favorable sentiment in the tech sector and Alibaba's fundamental innovations has allowed it to remain relatively stable compared to other large tech stocks, continuing to attract incremental attention from investors.

"Tongyi Qianwen" Ecosystem Expands as Downloads Continue to Grow

Recently, Alibaba’s large AI model "Tongyi Qianwen" (Qwen) has seen a significant increase in download numbers and developer usage across both domestic and international platforms. The model’s usage is growing rapidly in both enterprise applications and open-source ecosystems, positioning it among the leading open-source AI models in Asia. The rising download numbers reflect its growing popularity, attracting a large number of developers who are increasingly choosing it as their preferred base for application development. With downloads hitting new highs, the related application ecosystem is also expanding, including products like code assistants, enterprise customer service, marketing automation tools, and industry-specific solutions. The market generally views the rapid expansion of the large AI model business as one of the most promising areas of growth for Alibaba in the near future.

Market Sentiment Rebounds; Institutions Bullish on Valuation Recovery Potential

With strong performance in the large AI model sector, a recovery in cloud business, and stable performance in core e-commerce, Alibaba is regaining investor favor. Market expectations are high that the company will deliver results in AI commercialization, cloud efficiency improvements, and profitability enhancement over the next few quarters, providing further support for its stock price. As of press time, Alibaba’s stock price continues to trade at elevated levels, with the growth logic in tech and improving fundamentals driving the upward momentum.

How to Buy Alibaba via on uSMART

After logging into the uSMART HK app, click the “Search” button in the top-right corner of the page, enter the ticker code (09988.HK), and navigate to the details page to view transaction details and historical trends. Click the “Trade” button in the bottom-right corner, select the trade type, and submit your order after filling in the transaction conditions.

(Image Source: uSMART HK app)