• Alibaba's stock is up 9.2% at $18,720, driven by optimism after a pre-earnings briefing indicated narrowing losses in its instant-commerce business and accelerating revenue growth for Alibaba Cloud to approximately 45%.
  • The rally is part of a broader rotation into undervalued Chinese internet stocks, with the Hang Seng Tech Index also surging as investors move away from overheated global semiconductor markets.
  • This marks the stock's biggest single-day gain in about 10 months.