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Shanghai StairMed Technology Co., Ltd. has secured RMB 500 million in a strategic financing round led by Alibaba, with participation from Tencent and other investors. This funding will accelerate the development of its brain-machine interface (BMI) technology, following successful clinical implants. StairMed plans to initiate large-scale clinical trials in mid-2026 and expand its neuromodulation portfolio. The company aims to enhance human-machine interaction through collaboration with technology leaders, positioning itself as a key player in the BMI sector.

- Shanghai StairMed Technology Co., Ltd. closed a strategic financing round of RMB 500 million, led by Alibaba with continued support from stakeholders like Tencent and others, raising over RMB 1.1 billion in the past year.  
- The funding will accelerate StairMed's development of its brain-machine interface (BMI) technology, which achieved significant milestones, including China's first clinical trial of a 256-channel invasive BMI system.  
- StairMed also plans to initiate large-scale clinical trials in mid-2026 and advance its neuromodulation efforts with a new deep brain stimulation system targeting neurological disorders.

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Tencent

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Alibaba

02:41 ETStairMed Secures RMB 500 Million Financing Led by Alibaba, Joined by Tencent

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HSBC's latest report highlights a market misjudgment: the AI monetization capabilities of Alibaba and Tencent are systematically underestimated. The stock price corrections for both companies were not driven by pessimism regarding AI prospects, but by short-term concerns over operating expenses. If they can capture market share from the advertising market, their 2027 revenues could see an upside of up to 11%. HSBC maintains a "Buy" rating, with target prices implying upside potential of 44% and 51%, respectively

- The market may be misjudging the AI monetization potential of China's internet giants, Alibaba and Tencent, which a HSBC report states is systematically underestimated.  
- Despite significant AI investment plans and revenue forecasts, the companies' stock prices have dipped due to short-term concerns regarding increased operational costs rather than pessimism about AI's long-term returns.  
- The report suggests that by capturing 10% to 50% of advertising revenue from competitors, both Alibaba and Tencent could see substantial revenue growth by 2027, affirming HSBC's buy ratings with target prices of $180 and HK$750, respectively.

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Yinhua MSCI China A ETF

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Hwabao CSI HK Equities Internet ETF

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Global X E-commerce ETF

Direxion FTSE China Bull 3X

TENCENT

HSBC's latest report: Alibaba and Tencent's AI Monetization Capabilities Are Underestimated by the Market

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The short selling amount in the Hong Kong stock market reached HKD 20.79 billion in half a day, accounting for 31.9% of the trading volume of shortable stocks. This is an increase from 16.5% the previous day. The main shorted stocks include: TRACKER FUND with a short selling ratio of 65% and a short selling amount of HKD 2.03 billion; XIAOMI-W with a short selling ratio of 47.9% and a short selling amount of HKD 1.56 billion; CSOP HS TECH with a short selling ratio of 65% and a short selling amount of HKD 860 million; BABA-W with a short selling ratio of 25.3% and a short selling amount of HKD 720 million; BYD COMPANY with a short selling ratio of 61% and a short selling amount of HKD 660 million

AASTOCKS

BYD COMPANY

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CSOP HS TECH

TRACKER FUND

The short selling in the Hong Kong stock market for half a day reached HKD 20.79 billion, accounting for 31.9% of the total turnover of shortable stocks

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After Trump's speech at the White House, oil prices rose, and U.S. stock futures fell by 1% to 1.5%. After the Hong Kong stock market opened, the Hang Seng Index opened down 39 points, with the decline expanding to 291 points, closing at 25,016 points, down 277 points or 1.1%. Alibaba and Xiaomi fell by 3.5% and 4.1%, respectively, while Geely rose by 6.5% against the trend. Geely Auto's sales hit a record high, and Citigroup raised its target price to HKD 27, maintaining a "Buy" rating. Newly listed stocks performed actively, with ZEEKR rising by more than 20%

- Following President Trump's morning speech announcing a military victory, oil prices increased while Hong Kong's Hang Seng Index opened down 39 points and saw losses extend to a low of 25,003, closing at 25,016, down 277 points or 1.1%.  
- Major tech stocks like Alibaba and Xiaomi faced declines, influencing the index's performance, while Geely Motors rose over 6% after reporting record vehicle sales.  
- U.S. futures index declined by 0.5% to 1.5%, reflecting uncertainties in the market despite bullish sentiments from Trump's comments on the Iran conflict.

Stheadline

Xiaomi Corporation

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

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Geely Auto

Trump's anti-climax: US stock futures drop over 1%, Hong Kong stocks fall 277 points in half a day, Alibaba and Xiaomi face selling pressure, Geely rises 6% against the trend | Hong Kong stock market opens

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Citi maintains a "Buy" rating on Alibaba, with a target price of HKD 199. The bank discussed Alibaba's AI and cloud strategy at an event on April 1, believing it has the strongest AI competitive advantage in China's internet sector. Despite fierce competition in food delivery and instant retail, it is expected that related business losses will narrow. Alibaba's management pointed out that comprehensive full-stack capabilities and a strong ecosystem are key differentiators in the AI field, and it is anticipated that revenue from Model as a Service (MaaS) will drive the achievement of a USD 100 billion revenue target over the next five years

Global X Cloud Computing ETF

Citigroup maintains a "Buy" rating on Alibaba with a target price of 199 yuan

On April 2, all three major Hong Kong stock indices weakened intraday, with the HSI falling 1.01%, failing to return to the previous trading day's high. Hardware, retail, and internet content sectors declined across the board, led by leading stocks like Xiaomi Group, Alibaba, and Tencent Holdings. Market turnover was active, while YOFC and GEELY AUTO stood out by bucking the trend. Investors are focusing on changes in market volume and macroeconomic recovery guidance

- On April 2, 2026, Hong Kong's three major indices declined, reflecting cautious market sentiment.  
- The Hang Seng Index fell 1.01% to 25,037.41, unable to surpass its previous high, while the tech sector led the losses with Tencent dropping 1.33%.  
- Market participants are closely monitoring upcoming economic data to gauge recovery prospects, amidst a strong US dollar affecting performance.

Market Heartbeat

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Hong Kong Stocks Intraday | Three Major Indices Collectively Weaken, Hardware and Retail Slump, XIAOMI-W Drops 3.87%

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The Hang Seng Index's initial decline has expanded to over 220 points, currently reported at 25,064, down 229 points or 0.9%. Alibaba fell 3% to HKD 119, Tencent dropped 1.2%, and HSBC Holdings fell 1.5% to HKD 128.3. CNOOC rose 0.8%, and PetroChina increased by 1.4%. Airline stocks performed weakly, with China Eastern Airlines down 4.6% and China Southern Airlines down 4.3%

PETROCHINA

CHINA EAST AIR

CHINA SOUTH AIR

HSBC HOLDINGS

SINOPEC CORP

Hang Seng Index

The Hang Seng Index's initial decline has expanded to over 220 points, with Alibaba down 3%

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Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on Wednesday, underperforming the market despite a positive trading session where the NASDAQ rose 1.16%. The stock is currently 35.78% below its 52-week high of $192.67. Competitors like Bed Bath & Beyond, Rakuten Group, and eBay saw gains, while Alibaba's trading volume was below its 50-day average.

- Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on a generally positive trading day, while the NASDAQ Composite rose 1.16% and the Dow Jones increased by 0.48%.  
- The stock closed 35.78% below its 52-week high of $192.67, reached on October 2nd, and underperformed compared to competitors such as Bed Bath & Beyond and eBay.  
- Trading volume was 10.3 million, falling short of its 50-day average by 1.0 million.

MarketWatch Automated

ALI HEALTH

Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market

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- SpaceX, led by Elon Musk, has confidentially filed for an initial public offering (IPO), possibly making it one of the largest in history.  
- If successful, the IPO could surpass $50 billion, exceeding the $25.6 billion record set by Saudi Aramco in 2019.  
- Analysts predict this listing may stimulate the IPO market and encourage other major private startups, such as OpenAI and Anthropic, to pursue public offerings after a prolonged downturn.

Reuters

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FACTBOX-From Saudi Aramco to Alibaba: World's biggest IPOs

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BABO

Alibaba has launched a new generation image generation model Wan2.7-Image, aimed at breaking through the standard styles of traditional AI images and enhancing the realism of visuals to a professional level. This model allows creators to adjust character details, addresses color instability issues, and supports ultra-long text rendering in up to 12 languages, generating high-quality academic text and complex content. Wan2.7-Image is now available on the Alibaba Cloud AI development platform and Qwen App

- Alibaba (9988) has officially launched its new image generation model, Wan2.7-Image, which significantly enhances the realism of images and elevates overall creation precision to a professional level.  
- The model allows creators to adjust details such as skeletal structure and eye shape, overcoming common issues with previous AI image generation models, such as color instability.  
- Wan2.7-Image supports up to 12 languages and can handle text inputs of up to 3,000 characters, generating high-quality academic text and complex content.

Global X Data Center & Dgtl Infrs ETF

YieldMax BABA Option Income Strategy ETF

Alibaba released the image generation model Wan2.7-Image, claiming to "say goodbye to the AI standard face."

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- Nvidia retains its lead in the AI accelerator server market with a 55% share, despite a significant drop in market dominance.  
- Chinese firms now capture nearly 41% of the market, driven by increased government support for domestic chipmakers amidst U.S. export restrictions.  
- Huawei leads Chinese vendors, followed by Alibaba’s T-Head and Baidu's Kunlunxin, highlighting the growing influence of local manufacturers in the AI sector.

Baidu

BIDU-SW

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Invesco PHLX Semiconductor ETF

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GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

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Chinese chipmakers claim nearly half of of local market as Nvidia's lead shrinks, IDC says

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Powell may not have an FOMC talk, but his recent QnA at a University sparks interests and influenced the market. A simple comment that inflation outlook in check and there's no need to hike rates due to oil shock has the market reacting positively. Let's see how the situation pans out in the next few weeks

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seems like market hasnt bottom, still declining. wheres the end . haha

Fed is in a dilemma. On one hand, he is cautious of rising inflation due to wars &amp; tariff, on the other hand, he is watching unemployment rate in the labor market. Do nothing is the best current strategy for the Fed, till events becomes clearer. Singapore is pivoting to partner other trading blocks to increase trade export to like minded countries. And fast adoption of AI to enhance productivity to address rising cost of doing business here. Is all hands on deck. Singapore has to be ahead of the curve due to fast changing political and economical landscape changes to keep growth on track.

Today’s Key News Recap

0331 | Dolphin Focus: 🐬 Macro/Industry 1) NBS reported Mar Mfg PMI at 50.4%, up 140bps MoM and back in expansion. The non-manufacturing business activity index was 50.1%, up 60bps MoM, marking a second straight month of recovery.Production and new orders both stayed in expansion, while SME sentiment improved notably. This points to a rapid post-CNY rebound in manufacturing.2) Trump told aides he would be willing to halt military ops against Iran even if the Strait of Hormuz is not fully reopened. He would prioritize the goal of 'degrading Iran's naval and missile capabilities'...

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Alphabet - C

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Tencent HK SDR 10to1

Uber Tech

Tencent ramps up AI agents; BABA unveils Qwen3.5-Omni | Daily News Recap

Fed’s dovish is shifting short term sentiment, creating a tactical risk on window. Not a full pivot yet,so stay long quality growth but keep macro hedges in placeTesla TERAFAB – Moving into ultra scale compute fits the AI capex boom, where global demand is surging. For now, it’s a high beta narrative play, with execution risk still the main swing factor.Singapore retains solid growth supported by strong manufacturing and AI driven exports, showing underlying resilience despite external risks.

Musk is again promising the sun and moon; selling a dream, forever over promising and shifting goal posts. With the geopolitical event causing headache and pocket-aches to investors, I don't think anyone would be in the mood to be an all-in bull right now...

7 days into negotiation between US and IRAN, but no news of any breakthrough. The war will be long and the blockade will last. Start being defensive people!

As the war continues, oil will be in short supply and cause Singapore to suffer. Yes we do have 6 months of reserve. But one that used up, we are in the same situation as other South East Asia counties... So be worried peeps!

As usual anything from tesla is to take with a pinch of salt. Elon Musk have always over promise but under deliver. Only when it really launches then believe in the narrative!

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JP#ALIBARC2610J Stock Performance Chart

02:41 ETStairMed Secures RMB 500 Million Financing Led by Alibaba, Joined by Tencent

HSBC's latest report: Alibaba and Tencent's AI Monetization Capabilities Are Underestimated by the Market

The short selling in the Hong Kong stock market for half a day reached HKD 20.79 billion, accounting for 31.9% of the total turnover of shortable stocks

Trump's anti-climax: US stock futures drop over 1%, Hong Kong stocks fall 277 points in half a day, Alibaba and Xiaomi face selling pressure, Geely rises 6% against the trend | Hong Kong stock market opens

Citigroup maintains a "Buy" rating on Alibaba with a target price of 199 yuan