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| HSI1 | 25,517.33 | -492.13 | 291.15B |
| HSCEI1 | 8,471.36 | -162.98 | 116.43B |
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2026-08-24 10:42:20 BofA Securities issued a research report covering BABA-W (09988.HK), which announced a share placement in Hong Kong to raise HKD80 billion, with all proceeds to be invested in full-stack AI capabilities and infrastructure construction. Following the fundraising, the group's net cash will increase from approximately USD31 billion to more than USD41 billion. The broker believed the placement may affect market sentiment in the short term, as investors may be concerned about immediate dilution effects, rising depreciation related to AI infrastructure deployment, uncertainty over the duration of elevated capex, and the possibility of further external financing. However, the broker upheld a positive view, citing confidence in management's strong guidance for cloud business growth, improving economic returns from AI investments, and QoQ recovery in FCF. It viewed the placement as a financing move to drive growth, diversify funding sources and strengthen the balance sheet in advance. It maintained the USD172 US share Alibaba (BABA.US) TP and HKD168 Hong Kong share TP, while reiterating the Buy rating. ~ AASTOCKS Financial News Website: www.aastocks.com | |