Alibaba Shares Rise 5.3% in Hong Kong Amid Positive Analyst Report on Qwen App Growth

Alibaba's shares rose by over 5% in Hong Kong, driven by a positive report from Citigroup analyst Alicia Yap. Yap highlighted the growth of Alibaba's Qwen consumer application, which has surpassed 100 million monthly active users. The upcoming Qwen app launch event is expected to serve as a catalyst for Alibaba's stock performance. By the end of the morning trading session, Alibaba's shares had increased by 5.3%.