Alibaba Shares Rise as Investors Grow Confident in Long-Term Outlook

Alibaba 9988 7.53%increase; green up pointing triangle shares rose in Hong Kong, recouping losses from a day earlier as investors turned upbeat on its latest earnings release.

Shares were 7.0% higher at HK$85.30 on Friday, after it dropped 3.6% on Thursday in the wake of January-March earnings that showed a modest rise in sales alongside an 11% fall in adjusted net profit as the e-commerce giant ramped up investment to bring back growth.

Source: REUTER