BITENCT@EC2603B(19619.HK)

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BITENCT@EC2603B
19619.HK
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Alibaba Launches $432 Million AI 'Red Packet' Blitz To Crush Tech Rivals

Alibaba is investing $432 million to promote its Qwen AI app during the Lunar New Year, intensifying competition with Tencent and Baidu. The campaign, launching on Feb. 6, includes incentives like lottery-style free orders and cash-filled red envelopes. Alibaba's Qwen aims to be a personal AI agent across its platforms, having surpassed 100 million monthly active users. Additionally, Alibaba is rolling out its own AI chips to support growth and reduce reliance on Nvidia. The company's stock has risen 72% in the past year, though it saw a slight decline of 0.18% recently.

benzinga_article·
HK
00700
-1.24%
US
BABA
-0.69%
US
BIDU
-3.01%
benzinga_article·
HK
00700
-1.24%
US
BABA
-0.69%
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BIDU
-3.01%

Gold and silver slump, cooling the market; BABA's Qwen adds RMB 3 bn for Lunar New Year | Daily News Recap

0202 | Dolphin Research Focus: 🐬 Macro/Industry 1) International precious metals have sold off sharply since the weekend, with gold and silver down materially on a hawkish Fed chair nominee, a stronger USD and higher UST yields, concentrated profit-taking, and deleveraging by levered funds. The violent swings highlight fragile risk sentiment; near term, the market likely chops in a consolidation range with elevated vol risk.2) EV startups posted their first Jan delivery prints with wide divergence in YoY growth, and Leapmotor led the pack with 32,059 units. ...

HK
09863
-5.28%
HK
01211
-6.91%
US
BYDDY
-6.55%
HK
09863
-5.28%
HK
01211
-6.91%
US
BYDDY
-6.55%

Hong Kong stocks close | Hang Seng Index falls 2.23%, technology sector under significant pressure, precious metals plummet

On February 2nd, Hong Kong stocks closed lower across the board, with all three major indices declining and the technology sector under pressure. The top ten stocks by trading volume all closed in the green, reflecting short-term profit-taking pressure in the market. The pace of economic recovery and macro data have become the focus of attention, with an increase in cautious sentiment among investors

Market Heartbeat·
HK
00700
-1.24%
HK
09888
-3.99%
HK
00941
-2.26%
Market Heartbeat·
HK
00700
-1.24%
HK
09888
-3.99%
HK
00941
-2.26%

According to the "All-Day Express," the Hang Seng Index fell by 611 points; the Hang Seng Tech Index dropped by 191 points, Alibaba fell by over 3%, and BJ ENT WATER reached a new high with active trading

The Hang Seng Index closed at 26,775 points, down 611 points or 2.2%. The Hang Seng Tech Index reported 5,526 points, down 191 points or 3.4%. The total market turnover was HKD 347.886 billion. Alibaba fell 3.5%, closing at HKD 163.3. Other heavyweight stocks such as Ping An, Meituan, and Tencent also experienced varying degrees of decline. Individual stocks like BYD and XPeng saw larger drops, falling 6.9% and 6.8% respectively

AASTOCKS·
SZ
002594
-4.22%
US
TCTZF
-5.56%
US
TCEHY
-0.16%
AASTOCKS·
SZ
002594
-4.22%
US
TCTZF
-5.56%
US
TCEHY
-0.16%

Citigroup in "The Big Banks" expects limited negative impact of Google's Project Genie on the Chinese gaming industry, reiterating a "Buy" rating for Tencent

Citi's report pointed out that Google's "Project Genie" has a limited negative impact on the Chinese gaming industry, as Chinese users cannot access this technology. The report believes that if "Project Genie" is successful, it will have a positive impact on Tencent's "Tencent Mixed Universe Model 1.5" and its mini-game ecosystem. Citi reiterated its "Buy" rating on Tencent, with a target price of 783 yuan

AASTOCKS·
US
TCEHY
-0.16%
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TCTZF
-5.56%
HK
00700
-1.24%
AASTOCKS·
US
TCEHY
-0.16%
US
TCTZF
-5.56%
HK
00700
-1.24%
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On its HK debut today, $BUSYMING(01768.HK) surged over 88%. The deal was ~1,900x oversubscribed, with Tencent and Temasek among the cornerstone backers, igniting the market for the first bulk-snack re...

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