Alibaba Group Holding Ltd9988
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Alibaba surged 7% after unveiling its latest AI model, lifting internet platform shares.
Impact on stocks 1
Artificial Intelligence
Alibaba Group Holding LtdChina's stock market ended lower. Semiconductor shares fell, dragged down by a global plunge in AI-related stocks, with the STAR 50 Index, which focuses on high-tech companies, dropping 5.1 percent and the CSI Semiconductor Index falling 6.9 percent. Meanwhile, in Hong Kong, Alibaba Group surged 7 percent after unveiling its latest AI model, lifting internet platform-related shares. The Hang Seng Index closed 0.48 percent higher at 26,009.40. The China manufacturing PMI for July, compiled by S&P Global, fell to 50.9 from 51.7 in June, hitting a four-month low.
Alibaba Group Holding LtdAlibaba surged 7% after unveiling its latest AI model, lifting internet platform shares.