Hong Kong Stocks Highlights | Alibaba-W (09988) Rises Over 4% as Ant Group Invests HK$7.2 Billion to Acquire 13-Storey Office Building in Causeway Bay
Stock News
Oct 20
Alibaba-W (09988) surged over 4%, currently up 4.02% at HK$160.6, with a trading volume of HK$2.892 billion. Notably, on October 17, Alibaba-W and Ant Group announced a joint investment of US$925 million (approximately HK$72 billion) to acquire a 13-storey commercial office building at Causeway Bay Island Centre, which will serve as the Hong Kong headquarters for both companies. This acquisition marks the largest office transaction in Hong Kong since 2021. This strategic investment highlights the commitment of Alibaba and Ant Group to recognizing Hong Kong as an international business hub and global financial center, while also expressing their confidence in Hong Kong's emerging role in fostering innovation and technology development.
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