--- title: "Alibaba just had its best day in 10 months. Is it time for China techs to catch up?" type: "News" locale: "en" url: "https://longbridge.com/en/news/292073778.md" description: "Alibaba shares surged 12.2% in Hong Kong, marking its best single-day gain in 10 months, driven by reports that its e-commerce business has resumed growth. The rally extended to other Chinese tech giants like Xiaomi and Lenovo. Despite the jump, Alibaba's ADRs remain down 33% year-to-date as analysts lower earnings expectations due to heavy cloud spending and weak consumer demand in China." datetime: "2026-07-08T13:09:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292073778.md) - [en](https://longbridge.com/en/news/292073778.md) - [zh-HK](https://longbridge.com/zh-HK/news/292073778.md) generator: "portal-rs" --- # Alibaba just had its best day in 10 months. Is it time for China techs to catch up? By Steve Goldstein Alibaba shares jumped in Hong Kong trade on Wednesday. Alibaba on Wednesday saw its best single share-price gain in 10 months, as the broader Chinese tech sector revved higher after missing the rally propelling U.S., Korean and Taiwanese companies. Alibaba shares (HK:9988) zoomed 12.2% higher in Hong Kong trade, its best single day since Sept. 1. Alibaba American depository receipts (BABA) jumped 9% in premarket trade. The Chinese business-news website Jiemian News, without attribution, said Alibaba's fiscal first-quarter earnings preview shows that its struggling e-commerce business has resumed growth. Other Chinese tech companies also rallied, with Xiaomi (HK:1810) shares up 9%, Lenovo (HK:992) stock up 7% and Baidu (HK:9888) (BIDU) also rising 7%. The KraneShares CSI China Internet ETF KWEB jumped 4% in premarket trade. It came as the PHLX semiconductor index SOX fell 5% on Tuesday, falling 15% from its peak reached on June 22. The Kospi KR:180721 index of Korean stocks fell into a technical bear market as shares of Samsung Electronics and SK Hynix slump after a major rally. Alibaba's ADRs have stumbled 33% this year. Admittedly, analyst expectations for Alibaba earnings in fiscal 2027 have declined markedly - from $10.35 per share last year down to just $6.29 now, according to FactSet. That comes as Alibaba, like its U.S. counterparts, is spending heavily on cloud infrastructure and its own Qwen large language model. Its core e-commerce business also faces pressure from a languid Chinese spending environment. -Steve Goldstein This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-08-26 0909ET ### Related Stocks - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [LNVGY.US](https://longbridge.com/en/quote/LNVGY.US.md) - [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md) - [00992.HK](https://longbridge.com/en/quote/00992.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md) - [KWEB.US](https://longbridge.com/en/quote/KWEB.US.md) - [SSNGY.US](https://longbridge.com/en/quote/SSNGY.US.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [HXXD.SG](https://longbridge.com/en/quote/HXXD.SG.md) - [80992.HK](https://longbridge.com/en/quote/80992.HK.md) - [89888.HK](https://longbridge.com/en/quote/89888.HK.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) ## Related News & Research - [Exclusive-After outrunning Bolt, China's robot champion races towards real-world work](https://longbridge.com/en/news/298516320.md) - [Xiaomi delivers 30,153 cars in August, down 17.15% year-on-year](https://longbridge.com/en/news/298280522.md) - [Lenovo Moves to Fully Retire 2029 Convertible Bonds After Major Conversion](https://longbridge.com/en/news/298289085.md) - [Xiaomi’s wide foldable promises more power than Samsung’s](https://longbridge.com/en/news/298275404.md) - [Lenovo reports US$87.68 million conversion and cancellation of US$675 million convertible bonds due 2029](https://longbridge.com/en/news/298285629.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**