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BUZZ-Alibaba HK shares at 2-week peak on launch of AI platform Wukong

Reuters
昨天
BUZZ-Alibaba HK shares at 2-week peak on launch of AI platform Wukong

** Hong Kong shares of Alibaba Group 9988.HK climb 3.4% to HK$138.5, a peak since March 3, and on course for third consecutive session of gains

** Stock on track for the biggest one-day pct rise since March 10

** Alibaba on Tuesday launched an artificial intelligence platform, Wukong, for enterprises targeting automation, intensifying competition in China's rapidly evolving AI agent market following the OpenClaw craze that has gripped the country's tech sector

** The launch came a day after Alibaba unveiled its reorganization under the newly established Alibaba Token Hub $(ATH)$ business group, signaling a company-wide push into enterprise AI agents

** Wukong is the flagship product from the Wukong Business Unit under ATH

** YTD, Hong Kong stock down 5.4%, Hang Seng TECH Index .HSTECH down 7.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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