Mainland Chinese investors are increasing their stakes in Alibaba Group Holding Ltd. ahead of fiscal second-quarter earningsBloomberg Terminal, betting that the strong launch of its AI tool QwenBloomberg Terminal will help fuel future growth.
Onshore investors bought the tech company’s shares on a net basis for seven consecutive sessions via exchange links with Hong Kong, lifting their stake to 11.07%, according to Kaiyuan Securities Co. data. The group’s holdings are now a touch higher than Tencent Holdings Ltd.’s, with Alibaba the most purchased over the past 60 sessions.
