Alibaba Shares Surge as E-commerce and Cloud Growth Drive Strong Earnings
Source: euronews.com Alibaba’s Stock Soars Following Impressive Quarterly Results Alibaba’s stock shares surged in Hong Kong on Friday, jumping as much as 11% before settling at a 9.18% gain. The rally came after the Chinese tech giant posted impressive quarterly results, driven by robust performance in its cloud intelligence and e-commerce segments. Analysts at Nomura expect Alibaba’s e-commerce business to maintain strong momentum in the first half of 2025, supported by ongoing trade-in subsidies. To stimulate consumer spending, China introduced 300 billion yuan ($41.5 billion) in ultra-long special government bonds last year to support trade-in and equipment upgrade policies. This move has positively impacted domestic e-commerce growth, which is now on a path to sustainable growth and profitability. Vey Sern Ling, senior equity advisor at UBP, noted that the positive sentiment is also boosting the broader Chinese technology sector. AI and Cloud Investments Fuel Growth Alibaba’...