HK Stock Market Move | BABA-W (09988) opens more than 4%, reportedly developing AI functionality for China iPhone.

BABA-W (09988) opened more than 4% higher, with its stock price rising over 30% since the beginning of the year. As of the time of writing, it has risen 4.1% to 109.2 Hong Kong dollars, with a trading volume of 642 million Hong Kong dollars. On the news front, it was reported that Apple will collaborate with Alibaba to launch artificial intelligence features in China. Informed sources revealed that this move is one of Apple's strategies to address declining sales in China, aiming to provide more attractive software features. It is worth mentioning that on February 11th, Alibaba's founder Jack Ma appeared at Alibaba's Hangzhou campus, wearing a black Alibaba cultural jacket, smiling throughout and waving to employees. During the Spring Festival this year, Alibaba Cloud released the flagship model Qwen2.5-Max of the Thousand Questions Universal Qwen. The Qwen large model has become one of the world's largest open-source model families. In the open-source communities at home and abroad, the number of derived Qwen models has exceeded 90,000, surpassing the Llama series of open-source models under the American company Meta, ranking among the top globally.