HK Stock Market Move | Alibaba-related YUNFENG FIN (00376) rose nearly 18% this morning, up over 10% on the previous trading day.

YUNFENG FIN (00376) rose nearly 18% this morning, after rising over 10% in the previous trading day and ultimately closing up over 3%. As of the time of writing, it has risen by 13.45%, reaching HK$3.12, with a trading volume of HK$1.01 billion. On the news front, after BRIGHT SMART's stock price surged nearly 34% last Friday, it announced a temporary trading halt this morning, with the reason yet to be disclosed. It is worth noting that BRIGHT SMART had previously announced a revised agreement with Ant Group, extending the deadline for the acquisition offer to March 25, 2026. The Hong Kong Securities and Futures Commission has already completed relevant approval procedures. Currently, the market is closely monitoring the approval progress of the National Development and Reform Commission of China. In 2015, the Yunfeng Fund, co-founded by Alibaba founder Jack Ma, participated in the establishment of JadePassion, a subsidiary, and acquired 56% of the shares of Rui Dong Group, a Hong Kong-listed securities firm, for HK$2.68 billion, enabling a backdoor listing. YUNFENG FIN holds Hong Kong Securities and Futures Commission licenses for financial services categories 1, 4, 6, and 9, allowing it to provide services such as securities trading, securities consultancy, institutional financing consultancy, and asset management.