HKG:9988 5 January 2026 - 3 August 2026

Alibaba Group Holding dropped sharply Thursday, as AI-security concerns shifted into the stock price. The shares in Hong Kong ended at HK$95.00, off 4.43%, trading as low as HK$94.00 during the session. Turnover jumped to 141.4 million shares, well above the 93.91 million average. Based on a closing market cap of HK$1.90 trillion, the one-day drop wiped out about HK$88 billion in value.

Hong Kong shares kicked off Friday in the red, led by losses in major tech stocks. The Hang Seng Index dropped 182 points, or 0.65%, settling at 27,785. Alibaba slipped 1.9%, Tencent lost 1.1%, and the Hang Seng Tech Index declined 0.88%.

Kuaishou Technology jumped 11.4% in afternoon trade, leading gains among Hang Seng blue chips as the benchmark index eased 0.06% to 26,321.87. Investors also pushed Innovent Biologics up 6.7% and Hansoh Pharma up 5.7%, while they sold oil producers CNOOC and PetroChina, down 3.5% and 3.2%, respectively. Turnover — the cash value of shares traded — clustered in exchange-traded funds, with the Tracker Fund and the HSCEI ETF in the top five, alongside Alibaba, Tencent and SMIC. etnet 經濟通