Alibaba shares soar 11% in Hong Kong after stellar earnings as China's e-commerce sector recovers

Group 1 - Alibaba shares surged in Hong Kong by as much as 11%, closing 9.18% higher, following strong quarterly results driven by growth in cloud intelligence and e-commerce segments [1] - Nomura expects the outlook for Alibaba's e-commerce business to remain strong in the first half of calendar year 2025, supported by continued trade-in subsidies [1] - China's plan to allocate 300 billion yuan ($41.5 billion) in ultra-long special government bonds aims to enhance trade-in and equipment upgrade policies to stimulate consumption [2] Group 2 - Domestic e-commerce growth in China is recovering towards sustainable growth and profitability, positively impacting the broader technology sector [2] - Chinese tech stocks have been performing well, particularly after AI startup DeepSeek emerged, challenging the U.S.-led AI ecosystem with claims of superior performance and lower costs [3]