Alibaba's Hong Kong stocks rise to over a two-month high. The company will hold a Qwen press conference on Thursday.

Alibaba rose more than 5% in Hong Kong, moving towards its fourth consecutive rise and a high of over two months. Citi analyst Alicia Yap stated in a report that the monthly active users of the Qwen consumer app have exceeded 100 million, growing rapidly among students and white-collar workers. The Qwen app launch event scheduled for January 15 at 10 am will be the next catalyst. Alibaba rose 5.3% by the end of the morning trading session.