Alibaba shares soar to 4-year high, lifted by bullish AI investment, Cathie Wood's Ark ETF

Alibaba Group Holding's ambitious investment in artificial intelligence and an endorsement by one of the world's most influential technology investors lifted its Hong Kong shares to a four-year high. Star US fund manager Cathie Wood bought a combined US$16.3 million of Alibaba shares, her first investment in the Chinese e-commerce giant in four years and a vote of confidence in the company's focus on AI and on-demand delivery services. Wood's Ark Fintech Innovation ETF bought US$8.18 million of Alibaba's ...