HK Stock Market Move | BABA-W(09988) fell more than 3% in the afternoon, and will increase investment in Taobao Flash Sale in 2026.

BABA-W (09988) fell by over 3% in the afternoon, dropping to 141.5 Hong Kong dollars with a turnover of 87.79 billion Hong Kong dollars. On the news front, according to market reports, the latest communication from Alibaba to investors shows that Taobao Flash Sale has made key progress in the latest quarter. At the same time, Alibaba Group's investment strategy for Taobao Flash Sale in 2026 has also become clear: the primary goal of Flash Sale is to increase market share, and there will be a firm increase in investment to achieve market dominance. Forward-looking information indicates that in the December quarter, Taobao Flash Sale's GMV share continues to grow, AOV (average order value) maintains growth, and order share remains stable; meanwhile, the order structure continues to improve, and the proportion of high-value orders steadily increases.