Alibaba Group's Hong Kong-listed shares (9988) rose more than 3% on Monday. The stock closed at HKD 152.3. Trading turnover reached HKD 2.504 billion.
Alibaba Cloud expanded its Coding Plan subscription service on February 22. The service now supports four new advanced coding models, including the proprietary Qwen3.5-Plus. The company launched a heavily discounted trial for new users to accelerate adoption.
China Merchants Securities International reported that the investment case for AI-focused internet companies in China has strengthened. This trend is supporting a valuation recovery across the regional technology sector.