Alibaba-W (9988.HK) climbed 5% during regular trading to HKD 100.90.
The move came as Hong Kong tech stocks rallied broadly, with Baidu and Xiaomi gaining more than 5%, while Tencent Holdings and Bilibili rose 3%. The Hang Seng Tech Index has rebounded more than 8% over the past seven trading sessions, supported by net southbound fund inflows exceeding HKD 6 billion for four consecutive days.
Analysts attribute the strength to increased AI weighting driving passive fund inflows and valuations at historical lows, highlighting the sector's configuration value.