Innolight stock jumps after approval for up to $8 billion Hong Kong IPO
What’s new: The deal could become Hong Kong’s biggest listing since Alibaba’s 2019 share sale and the city’s largest this year.
Bloomberg, The Business Times (Singapore)
Subject
#Alibaba Group Holding
China clears Apple iPhone AI rollout with Alibaba, Baidu
Why it matters: The approval opens Apple Intelligence in its biggest smartphone market and lifted Alibaba ADRs as much as 7.9%.
Bloomberg, The Straits Times
Alibaba replaces DingTalk chief as AI strategy clash hits shares
What's new: Alibaba stock fell as much as 5.9% in Hong Kong after an internal rebuke of DingTalk's management and AI push.
Alibaba, JD.com drop as Beijing rebukes 618 discount pitches
What's new: China's regulator also called in PDD, ByteDance and Xiaohongshu over allegedly misleading subsidy claims.