On August 3, BABA-W rose 4.1% in regular trading, reaching HKD 123.7 with turnover of HKD 3.22 billion, extending a multi-session rally driven by multiple catalysts.

On the news front, the stock continues to benefit from the launch of the Qwen 3.8 large model, widely seen as a key step demonstrating Alibaba's competitiveness amid intensifying AI model competition. Additionally, the company's AI Agent product Qianwen Office entered small-scale testing, integrating three agent products into a unified desktop client with plans to embed within DingTalk. Analysts noted that concerns over cloud revenue deceleration and margin compression have largely dissipated, with cloud segment margins expected to benefit from higher-margin AI cloud services.

Meanwhile, Chairman Joe Tsai's August 1 divorce announcement was absorbed without disruption, as the couple confirmed no Alibaba share sales are planned and all governance roles remain unchanged, with core holdings shielded by offshore irrevocable trust structures. Southbound funds have also been net buyers of Alibaba shares, amid a broader capital rotation from hardware into internet platform stocks.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)