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BUZZ-Alibaba's Hong Kong shares rise most in over 4 weeks ahead of Q1 results

05/11/2021 22:41
BUZZ-Alibaba's Hong Kong shares rise most in over 4 weeks ahead of Q1 results

** Hong Kong-listed shares of Chinese e-commerce giant Alibaba Group Holding Ltd 9988.HK rise as much as 4.5% to HK$216.80, on course for their best day since April 12

** Stock on track to snap three consecutive sessions of losses; the third-most actively traded shares by turnover and the biggest percentage gainer in the benchmark Hang Seng Index .HSI

** Alibaba BABA.N is expected to show a rise in quarterly revenue when it reports results on Thursday nL8N2MY5W9

** The Hangzhou, Zhejiang-based company is expected to post a 55.9% surge in revenue to 178.192 bln yuan ($27.70 bln) for quarter ended in March, from 114.31 bln yuan a year ago, according to the mean estimate from 30 analysts, based on Refinitiv data

** JP Morgan initiates coverage on Alibaba with "overweight" rating and PT of HK$310 nFWN2MY13V

** Alibaba's Hong Kong stock down 23.3% from this year high of HK$270 on Jan 20 to a low of HK$207 on May 11

** The Hong Kong Hang Seng sub-index, tracking information technology firms, .HSCIIT surges 3.2%, and the Hang Seng Tech Index .HSTECH rises 2.5%

** The Hang Seng China enterprises index .HSCE climbs 1.1%, and the benchmark index .HSI gains 0.3%


($1 = 6.4340 Chinese yuan)


(Reuters Messaging: [email protected])