BABA(US:BABA) Shang Hai Zheng Quan Bao·2025-09-19 18:25Group 1 - The Hong Kong internet sector has shown significant recovery recently, with leading stocks like Alibaba and Tencent experiencing continuous price increases, leading to substantial inflows into related ETFs [1][2] - As of September 18, the Fuqun CSI Hong Kong Internet ETF has seen a net inflow of 160.49 billion yuan over the past month, ranking first among all cross-border ETFs, with its total size reaching 924.73 billion yuan [2] - The short-selling ratio in the Hong Kong market has decreased significantly from a historical high of 20.8% in August to 13.8% by September 12, indicating a recovery in investor sentiment towards internet stocks [3] Group 2 - Analysts believe that Alibaba and Tencent are strategically positioned at the core of the AI era's value chain, particularly in the cloud platform sector, benefiting from their large business bases and strong growth momentum [4] - The cloud business of both companies has shown consistent growth, exceeding expectations in recent quarters, highlighting their potential driven by AI [4] - The deep competitive advantages of Alibaba and Tencent, including long-term technological accumulation and significant capital investment, make their market positions difficult to challenge [4]