HK Stock Market Move | BABA-W(09988) rose by over 4% in the final trading hours. Taobao's flash sale on new customers during the Double 11 e-commerce event surpassed one billion orders.

BABA-W (09988) rose more than 4% in the last trading session, rising 3.97% by the time of writing to HK$164.8, with a turnover of HK$11.389 billion. On the news front, Alibaba's Taobao flash sale has been active recently. On November 3rd, the delivery app Ele.me completed the update to version 12.0.1 and officially changed its name to "Taobao Flash Sale", with the update still in the grey test phase; on November 5th, according to First Finance, job platform Boss Zhipin showed that Alibaba is currently recruiting for multiple positions that suggest a merger of Taobao Flash Sale and Ele.me; on November 6th, Tmall's Double 11 data showed that by the 5th, Taobao Flash Sale had brought in over 100 million new users in e-commerce during the Double 11 period. East Asia Securities has released a research report stating that Alibaba is expected to announce its second quarter results in mid-November, with overall revenue growth expected to slow to 4% year-on-year, but cloud business revenue growth expected to accelerate to over 30%, as one of the potential highlights. China's e-commerce business revenue is expected to increase by 12% year-on-year, mainly benefiting from the contribution of the flash sale business. However, due to the need for increased investment in delivery and flash sale businesses, as well as a significant increase in capital expenditure on AI-related infrastructure, the group's adjusted profit margin performance may be dragged down in the short term.