Alibaba's Hong Kong-listed shares closed 2.3% higher on Monday. This rally provided a significant lift to the broader Hang Seng Index.
A leaked guide on Apple's official website sparked the price movement. The document, which was later deleted, suggested Mac users in mainland China could access Alibaba's Qwen artificial intelligence services.
Investors reacted positively to the potential for wider adoption of Alibaba's AI technology.
Alibaba is scheduled to release its June quarter earnings on August 20. Market analysts expect active trading as the Hong Kong options market has not yet fully priced in the anticipated event-driven volatility.