HK Stock Market Move | BABA-W (09988) rose nearly 4% in early trading; Cook confirms Apple Intelligence to integrate Alibaba's Qwen large model.

BABA-W (09988) rose nearly 4% in early trading. As of press time, it was up 3.10% at HK$109.7, with a turnover of HK$1.385 billion. On the news front, on October 15, Apple Board Executive Chairman Tim Cook, speaking in Shanghai about Apple Intelligence, said that Apple Intelligence and the related Alibaba Qwen large model have indeed been approved and will release a test version later in October, which includes the first batch of Apple Intelligence features such as real-time translation, writing tools, and photo cleanup tools, but Siri AI is not included this time. It is worth noting that this year's Tmall "Double 11" will officially go on sale at 8 p.m. on October 20, with the number of promotional items reaching a record high. AI services are also joining "Double 11" for the first time, with model vendors such as Z.AI, MiniMax, and Qwen collectively offering discounts, allowing consumers to "stock up on Tokens" during "Double 11".