🟢 Alibaba Group is trading 3.27% up today after agreeing to sell Lingxi Games

Alibaba Group is trading 3.27% up now at HK$126.20 after agreeing to sell Lingxi Games to Trustar Capital.

• Bloomberg reported the deal is worth at least $1.5 billion.
• Reuters cited a valuation exceeding $2 billion.
• Proceeds will support Alibaba’s strategic shift toward artificial intelligence and cloud computing, providing a company-specific catalyst despite cautious broader market sentiment.