BUZZ-Alibaba's Hong Kong shares hit 4-month peak on Apple partnership report

Reuters
02/12
BUZZ-Alibaba's Hong Kong shares hit 4-month peak on Apple partnership report

** Hong Kong shares of Alibaba Group 9988.HK jump 7.3% to HK$112.6, their highest since October 7

** Stock on track for the biggest one-day gain since Sept. 30, 2024; top gainer in Hang Seng Tech Index .HSTECH which is up 2%

** Alibaba's U.S. shares BABA.N rose 1.3% on Tuesday

** Apple AAPL.O is partnering with Alibaba to roll out artificial intelligence features for iPhone users in China, the Information reported on Tuesday, citing one person with direct knowledge of the decision

** Apple had selected Baidu as its main partner last year, but the Chinese company's progress in developing models for Apple Intelligence fell short of its standards, the report said

** Baidu's Hong Kong stcok 9888.HK fell 1.1%

** Hang Seng Index .HSI and Hang Seng China Enterprises Index .HSCE both rise 1.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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