Alibaba surged over 4% to HK$137.4 as of press time, with trading volume reaching HK$11.17 billion.

On the news front, on the evening of September 5, Alibaba's Tongyi Qianwen launched Qwen3-Max-Preview (Instruct), featuring 1 trillion parameters, making it the company's largest model to date. The model demonstrates significant enhancements in Chinese and English comprehension, complex instruction following, and tool calling capabilities, while substantially reducing knowledge hallucination.

Notably, according to reports, Apple continues to advance its plans for launching Apple Intelligence in China, with an expected rollout before year-end. The report indicates that Apple is organizing its China-based employees to test related features and continues to collaborate with Alibaba and other partners on technical implementation efforts.