Alibaba Group Holding Ltd. (BABA-W) saw its stock soar by 5.02% in Hong Kong's intraday trading session on Thursday, outperforming the broader market rally. The surge comes as Hong Kong stocks opened higher following news of a potential easing in US-China trade tensions.

The positive momentum was triggered by an announcement from former US President Donald Trump, who declared a 90-day pause on the so-called reciprocal tariffs affecting numerous trade partners. However, it's worth noting that duties on Chinese goods were raised to 125%. Despite this mixed signal, investors appeared to focus on the potential for improved trade relations, driving up Chinese tech stocks.

Alibaba's impressive gain was part of a broader tech sector rally, with the Hang Seng Tech Index jumping 4%. Other notable performers included Xiaomi, which rose 7%, and XPeng, which climbed 6%. Tech giants Tencent and Nio also saw gains of 4%, mirroring Alibaba's earlier movement. The overall Hang Seng Index was up 2.7%, reflecting the positive sentiment across the Hong Kong market.