UBALIBA@EC2606E

Institutional holdings update: Legacy Financial and others increase stakes in Alibaba

Hang Seng Index quarterly rebalancing implementation

Alibaba Cloud technology gains exposure supporting Milano Cortina 2026 Winter Olympics.

Citrini Research AI risk report triggers sell-off in HK tech stocks.

China's National People's Congress to Open on March 5

US President Trump Scheduled to Visit China in Late March

Alibaba HK Share Short Selling Data Updated.

Alibaba US Pre-market Boosted by Surge in AI Eyewear Demand, Market Sentiment Leans Positive

Legacy Financial Advisors Discloses New Position in Alibaba Group

US confirms probe into DeepSeek's use of Nvidia chips; renewed regulatory fears for Chinese tech

Alibaba stock dips in premarket trading as market digests Qwen AI user surge

Demand for Alibaba's Qwen AI to Write Leave Applications Surges 530%

Market Analysis Suggests Alibaba Undervalued After Regulatory Turmoil, Models Indicate 44.5% Upside

New US tariff policies trigger market volatility; investors eye geopolitical risks.

Alibaba Cloud to host AI Dynamic Summit at MWC 2026.

Alibaba management to host earnings conference call.

Alibaba's Qwen 3.5 Tops Hugging Face Open LLM Leaderboard

Direxion launches new 2X Bull ETF for Alibaba.

Alibaba Qianwen 3.5 Ranks First on Hugging Face's Global Open-Source Model List

Alibaba Cloud to showcase AI capabilities at NVIDIA GTC 2026

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On February 24th, Hong Kong stocks closed with all three major indices significantly retreating, with the Hang Seng Index down 1.82% and the Hang Seng Technology Index down 2.13%. Dragged down by the adjustment in U.S. stocks and macroeconomic concerns, the technology and catering sectors saw widespread declines, with Meituan down 4.24% and Tencent Holdings down 3.35%. Despite the weak market, KNOWLEDGE ATLAS surged against the trend, driven by positive news from AI model breakthroughs, rising 12.14%, while YUM CHINA increased by 2.55% due to strong earnings reports. Market sentiment has turned cautious, facing short-term profit-taking pressure

- On February 24, Hong Kong stocks faced a significant retreat, with major indices, including the Hang Seng Index, falling by 1.82% after reaching a high phase.  
- The declines were attributed to profit-taking pressures and cautious market sentiment, particularly affecting the tech and retail sectors.  
- Investors are closely monitoring macroeconomic indicators, including retail sales and import-export data, to assess the sustainability of local consumption and external demand recovery.

Market Heartbeat

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TENCENT

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MNSO

JD-SW

MEITUAN

HAIDILAO

YUM CHINA

KNOWLEDGE ATLAS

KB LAMINATES

GIGADEVICE

Tianhong Hang Seng TECH ETF(QDII)

CSOP HS TECH

HSTECH ETF

ChinaAMC Hang Seng Technology ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%

On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

On February 24th, the Hong Kong stock market's midday review showed a collective pullback in the morning session, with the three major indices experiencing a unilateral adjustment. The Hang Seng Index fell by 1.93%, and the Hang Seng TECH Index dropped by 2.36%, leading the market decline. Risk aversion sentiment increased, causing technology heavyweight stocks to weaken across the board, with Meituan -W down 4.76%, leading the blue-chip decline, and Tencent Holdings down 3.44%. The internet, retail, and catering sectors were generally under pressure, but YUM CHINA rose 1.98 against the trend. In terms of individual stocks, KNOWLEDGE ATLAS surged by 20.89%, and KB LAMINATES rose by 11.09, driven by positive earnings expectations. Market focus has shifted to macroeconomic data and liquidity in the capital market

- On February 24, Hong Kong's stock market showed a notable downturn with the Hang Seng Index closing at 26,560.57, down 1.93%. 
- Sector performance was broadly negative, particularly in technology and retail, with major companies like Tencent and Alibaba seeing significant declines amid rising risk aversion and concerns over macroeconomic conditions. 
- Investors are closely monitoring economic indicators such as retail sales and unemployment to gauge the recovery potential of the Hong Kong economy.

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Meituan

FI2 CSOP HSI

FL2 CSOP HSI

FI CSOP HSI

Hang Seng TECH Index

Hang Seng Index

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

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On February 24th, during the Hong Kong stock market, the three major indices collectively weakened, with the Hang Seng Tech Index leading the decline, down 2.26%. The internet and retail sectors were under pressure, and market risk aversion increased, with Tencent Holdings falling 3.16% and Alibaba dropping 2.50%. The communication equipment sector showed mixed performance, with YOFC rising against the trend by 3.84%. In terms of individual stocks, KNOWLEDGE ATLAS surged 13.57% due to the release of its flagship model, while Jiantao's laminated board rose 11.19% on positive earnings expectations. Investors are closely watching Hong Kong's retail and unemployment rate data

- On February 24, Hong Kong stocks experienced a decline as profit-taking pressures emerged after reaching recent highs, with the Hang Seng Index down 1.65% at 26,634.12 points.  
- Notable declines were observed in the tech sector, led by Tencent, Kuaishou, and Meitu, while the retail sector also suffered due to external market influences.  
- Investors are closely monitoring economic indicators such as retail sales and unemployment rates to gauge local consumer recovery, impacting market momentum and liquidity expectations.

MEITU

BYD ELECTRONIC

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YOFC

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend

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The NASDAQ Golden Dragon China Index initially closed down 0.9%. Among popular Chinese concept stocks, NetEase fell 1.7%, Baidu, Pony.ai, and New Oriental dropped about 1%, while Alibaba declined 0.8%. Tencent, Pinduoduo, Xiaomi, and Li Auto rose up to 0.9%, and BYD, Meituan, YUM CHINA, WeRide, and Nio increased by up to 4.5%

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NASDAQ Golden Dragon China Index

FTSE ST China Index

CSI 300

Tencent

XIAOMI-W

Direxion FTSE China Bull 3X

E Fund CSI HK Connect Internet ETF

KraneShares 2x Long PDD Daily ETF

iShares MSCI China

KraneShares 2x Long BABA Daily ETF

GraniteShares 2x Long PDD Daily ETF

CSOP CSI300

China Southern CSI 300 ETF

Yinhua MSCI China A ETF

Roundhill China Dragons ETF

Invesco Golden Dragon China

NTES-S

NetEase

GOOG

GOOGL

RIVN

BYTED

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HBBD

BABA

There is always plenty of drama around Chinese New Year. After Trump ramped up tariffs throughout 2025, the policy was effectively gutted, leaving no legal footing.In 2026, following a rush of domestic AI model launches, China ADRs never had a 'DS moment'. Model-linked names were the only ones that outperformed.Also, during Chinese New Year 2026, despite decent consumer data, HK stocks fell first and then rose, an ineffective swing. There was no standalone 'Chinese New Year bull run' during HK’s solo trading days.With Trump-era tariffs in his second term ruled unlawful, what could this mean for markets ahead? The days of blanket re-rating may be over...

With Trump tariffs axed and China models soaring, can China ADRs rally?

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BABX

O Neil Global Advisors Inc. has acquired a new position in Alibaba Group Holding Limited (NYSE:BABA), purchasing 17,498 shares valued at approximately $3.1 million, making it the firm's 21st largest position. Other institutional investors have also increased their stakes in Alibaba. The stock opened at $154.60, with a market cap of $369.1 billion and a consensus rating of "Moderate Buy" from analysts, who have set an average price target of $195.17.

- O Neil Global Advisors Inc. acquired 17,498 shares of Alibaba Group Holding Limited, valued at approximately $3,127,000, in Q3, making it the firm’s 21st largest position.  
- Other institutional investors have also adjusted their stakes, with significant increases from Mather Group LLC and NBT Bank N A NY during the same period.  
- Alibaba holds a consensus rating of "Moderate Buy" from analysts, with an average price target of $195.17 amid fluctuating price targets from various investment firms.

Market Beat

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BABA 2x Long Daily ETF - GraniteShares

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Global X E-commerce ETF

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ProShares Online Retail

O Neil Global Advisors Inc. Takes Position in Alibaba Group Holding Limited $BABA

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0223 | Dolphin Research Focus: Macro/Sector. 1) Major shift in U.S. tariff policy in Feb 2026, as the Supreme Court struck down global tariffs imposed under the International Emergency Economic Powers Act (IEEPA) as unconstitutional.The White House then announced a 10% temporary tariff on all global imports effective Feb 24 (later raised to 15%). The measure lasts 150 days and requires Congress approval for extension, with exemptions for critical minerals, pharmaceuticals, and other items.Approx. $175 bn of previously collected tariffs may be refunded. Near term, trade could face disruption, while longer-term cost pressures may ease...

HK stocks on fire; Pop Mart launches 'After-school Merodi' | Daily News Recap

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Hong Kong stocks surged on February 23, led by tech shares, following a U.S. Supreme Court ruling that reduced tariffs on China. The Hang Seng Index rose 2.3% to 27,019.21, while the Hang Seng China Enterprises Index increased by 2.5%. Analysts predict a significant tariff reduction for China, from 32% to 24%. U.S. President Trump is scheduled to visit China from March 31 to April 2, which is boosting market sentiment. The Hang Seng Tech Index climbed 4%, with notable gains from Alibaba and Tencent. Overall, the market is optimistic about China's economic recovery and upcoming events.

- Hong Kong stocks surged on February 23, with the Hang Seng Index rising 2.3% to 27,019.21, bolstered by positive sentiment following a U.S. Supreme Court ruling on tariffs.  
- The ruling reduced tariffs on China from 32% to 24%, prompting optimism in the market as U.S. President Trump plans a visit to China in late March.  
- Major tech stocks, including Alibaba and Tencent, saw significant gains, while early data indicated strong demand during the Chinese New Year holiday, leading to positive economic outlooks.

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YieldMax BABA Option Income Strategy ETF

Hong Kong shares bounce after US Supreme Court tariff ruling; tech shares lead

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The Hang Seng Index opened 385 points higher this morning, reaching a maximum increase of 743 points to 27,156 points. It reported 27,017 points at noon, up 604 points or 2.29%. Technology stocks performed strongly, with Alibaba, Tencent, and MEITUAN all seeing significant gains. Gold-related stocks also rose broadly due to the increase in gold prices. However, some AI-related stocks, such as IM Motors, experienced a sharp decline. Analysts believe that Hong Kong stocks are influenced by tariff policies and are expected to test 27,300 points in the short term, but the future market trend still needs to pay attention to the situation of the mainland's reopening

- The Hang Seng Index opened 385 points higher, reaching a peak of 27,156 before falling to 27,017, up 2.29% by noon.  
- Notable blue-chip stocks like Alibaba and Tencent drove the rise, with Alibaba gaining over 3% and Meituan nearly 7%.  
- Analysts expect a potential rebound in technology stocks due to eased valuation pressure and increasing AI application, though concerns about the impact of global tariff adjustments remain.

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SPDR GOLD TRT

EFUND GOLD MI-U

EFUND GOLD MI ETF

The Hang Seng Index rose more than 600 points in half a day, surpassing the 27,000 mark. ATM contributed to the rising market, while Zhipu fell more than 20%｜Hong Kong stock market opens

JP Morgan released a research report, predicting that the target for the MSCI China Index will be 100 points by the end of the year, and the target for the CSI 300 Index will be 5,200 points. The report points out that China has made progress in AI, robotics, biotechnology, and other fields, and the market's attitude towards the Chinese stock market will shift towards long-term investment. JP Morgan is optimistic about sectors benefiting from AI, including internet platforms, materials stocks, brokerage stocks, insurance stocks, consumer staples, and robotics, with a focus on recommending stocks such as Tencent, Alibaba, and Kweichow Moutai

AASTOCKS

Tianhong CSI Computer Theme ETF

Global X Robotics & Artificial

iShares Future AI & Tech ETF

iShares China Large Cap

JP Morgan is optimistic about the materials, brokerage, insurance, consumer staples, and robotics sectors, with a year-end target of 100 points for the MSCI China Index

The Hong Kong stock market opened higher in the morning, with the Hang Seng Index rising 385 points to 26,798 points, and the National Index and Hang Seng TECH Index increasing by 131 points and 92 points, respectively. E-commerce stocks such as Alibaba and JD opened higher, while technology stocks Tencent, Meituan, and NetEase also saw gains. AI model stock KNOWLEDGE ATLAS opened down 13.8% due to issues. Export stocks such as Creative Technology and SHENZHOU INTL opened higher, and pharmaceutical stocks WUXI BIO and WUXI APPTEC also rose. Commodity prices increased, leading to a general rise in related resource stocks

SHENZHOU INTL

WUXI BIO

WUXI APPTEC

FI2CAMNDQ100

China Southern Hang Seng ETF

"Hong Kong Stocks" The Hang Seng Index opened high at 385 points, with technology, export, and resource stocks rising, while AI model stocks retraced

The U.S. Supreme Court ruled that Trump's tariff policy is illegal, and Trump plans to raise the 10% global tariff to 15%. The Hong Kong stock market opened, with the Hang Seng Index up 385 points at 26,798 points, and Alibaba's stock price rising over 2%. KNOWLEDGE ATLAS apologized for the GLM Coding Plan, with its stock price falling over 13%. Risk aversion sentiment drove up gold and silver prices

- Following the U.S. Supreme Court's ruling against Trump's tariff policy, Trump announced a rise in the global tariff from 10% to 15%.  
- Analysts forecasted that this would have a short-term positive effect on the Hong Kong stock market, with the Hang Seng Index potentially testing 27,300 points; however, overall market momentum remains uncertain.  
- Gold and silver prices have increased due to heightened risk aversion amid ongoing geopolitical tensions and trade concerns, impacting stock performance across various sectors.

Trump's tariffs hit a snag, the Hang Seng Index opened up 385 points, Alibaba rose over 2%, KNOWLEDGE ATLAS and MINIMAX fell over 10% | Hong Kong stock market opens

DeepSeek allegedly using banned Nvidia chips, dragging down whole sector. $Alibaba(BABA.US) -2.9% to $147.8 on HKEX, volume 35M shares, active sell ratio 64:36 . Market dumping first, asking questions later. Classic overreaction or real risk? I'm watching for dip buyers.

DeepSeek

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Alibaba HK SDR 5to1

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Walmart

Alphabet - C

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Rivian Automotive

ByteDance

Today’s Key News Recap

Allianzim US Large Cap Buffer10 Mar ETF

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POP MART HK SDR 20to1

$NIO-SW(09866.HK)

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$BABA-W(09988.HK)Many people still misunderstand Alibaba as merely an e-commerce company. In reality, its rapid progress in AI and cloud services is transforming it into a technology-driven growth company. Analysts generally lean toward a moderate buy to strong buy outlook on BABA shares.The launch of its latest AI model, Qwen 3.5, further demonstrates clear improvements in power and efficiency, signaling Alibaba’s strong commitment to competing in the generative AI race.I have the patience and conviction to hold BABA and ride the green dragon forward. What about you?

Ma Yun calls TB Flash Sale a “milestone battle”. Three years of no profit pressure. AWS spent $125B in 2025 to win cloud. $Alibaba(BABA.US) spending $12B to win instant retail. Same playbook, different arena. Market yawns. I accumulate. 🛒

UBALIBA@EC2606E(24277.HK)

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend