HK Stock Market Move | BABA-W (09988) rose nearly 4% in early trading; Alibaba's Qwen is set to launch a Personal Agent, "Qwen Go."

BABA-W (09988) rose nearly 4% in early trading. As of press time, it was up 2.61% at HK$110, with a turnover of HK$3.50 billion. On the news front, according to multiple media reports, Alibaba's Qwen Personal Agent, "Qwen Go," is set to be launched soon. Based on shares from some users who have already obtained testing access, Qwen Go can help users handle flight delay claims, apply for shopping price protection refunds, inquire about and book car maintenance, and reserve sports venues, further expanding the scope of tasks handled by the personal AI assistant. It is worth noting that JP Morgan expects Alibaba to usher in a key turning point in the December quarter, with its cloud business operating profit set to surpass the losses generated by AI model and application development for the first time, marking the point at which AI investment begins to self-fund and no longer relies solely on group subsidies.