On July 31, BABA-W rose 3.49% in regular trading, trading at HK$115.7/share, with turnover of HK$3.521 billion. The stock extended its recent rebound momentum on multiple converging catalysts.

On the news front, Alibaba recently launched its Qwen 3.8 large language model, viewed by the market as a significant step demonstrating the company's competitive strength amid intensifying model iteration among peers. Institutions noted that market concerns over Alibaba Cloud's revenue deceleration and margin compression have been largely eliminated, with cloud business margins expected to benefit from the higher average profitability of AI cloud services. Analysts have raised cloud segment profit forecasts while trimming food delivery loss estimates.

Simultaneously, global tech markets have exhibited a clear rotation of capital from hardware-focused sectors such as semiconductors toward software-oriented internet platforms. Memory chip leaders saw drawdowns exceeding 30% from recent highs, while southbound capital flowed into Alibaba on a net buying basis despite broader net selling of HK$55.89 billion. These multiple tailwinds collectively supported the stock's upward move.

(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.)