Alibaba shares soar 11% in Hong Kong after stellar earnings as China's e-commerce sector recovers
1. Alibaba shares surged over 9% on stellar quarterly earnings. Cloud and e-commerce growth were key. 2. Alibaba commits to a three-year AI and cloud infrastructure build-out. Investment exceeds its past decade spending. 3. E-commerce outlook remains strong with continued trade-in subsidies. Nomura forecasts robust growth in 1HCY25F. 4. US-listed shares jumped over 8% after results. Domestic tech sentiment appears increasingly positive.