Alibaba-W (09988) saw its decline exceed 4% during afternoon trading. As of the time of writing, the stock was down 4.2%, trading at HKD 162.1, with a turnover of HKD 8.676 billion. On February 2nd, Alibaba's Qwen App announced the launch of a 3 billion yuan "Spring Festival Treat Plan," scheduled to officially commence on February 6th. During the Spring Festival period, the Qwen App will collaborate with various Alibaba ecosystem businesses, including Taobao Deals, Fliggy, Damai, Hema, Tmall Supermarket, and Alipay, to treat people across the country to food, drinks, and entertainment through a no-payment-required model. Reportedly, this 3 billion yuan Spring Festival initiative by Qwen represents the largest investment in Alibaba's history of Spring Festival activities and, based on currently disclosed figures, is also the highest investment amount among the major tech companies' AI battles during this year's holiday season.
- Like
- 1
- Favorite
Hong Kong Stocks Movement | Alibaba-W (09988) Falls Over 4% in Afternoon Trading as Qwen App Launches 3 Billion Yuan "Spring Festival Treat Plan"
Stock News02-02 13:44
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Like
Report
Login to post
- AntonyGeorge·02-02 15:03Good news why fall2Report