HK Stock Market Move | BABA-W (09988) fell more than 4% in the afternoon. Qianwen APP announced an investment of 3 billion to launch the "Spring Festival treating guests plan".

13:38 02/02/2026

Alibaba-W (09988) fell more than 4% in the afternoon, dropping 4.2% to HK$162.1 at the time of writing, with a turnover of HK$86.76 billion.

BABA-W (09988) fell over 4% in the afternoon, dropping 4.2% to HK$162.1 with a turnover of HK$8.676 billion as of press time. On the news front, on February 2nd, Alibaba's Q&A app announced a 30 billion plan to launch the "Spring Festival Guest Plan", which will officially go live on February 6th. During the Spring Festival, the Q&A app will collaborate with Alibaba's ecosystem businesses such as Taobao Flash Sale, Fliggy, Damai, Hema, Tmall Supermarket, Alipay, etc., to invite people nationwide to enjoy eating, drinking, and entertainment during the Spring Festival. It is reported that this 30 billion Spring Festival Guest Plan is the largest investment in Alibaba's history of Spring Festival activities, and the amount invested in this year's Spring Festival AI battle is also the highest.

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HK Stock Market Move | Triumph New Energy (01108) falls more than 3%, expected net loss to expand to 290 million yuan by 2025.

A-shares closing review | Gold and silver experience epic plunge again, dragging down all three major indices of A-shares by more than 2%! Institutions gauge the market situation in February.