What's Going On With Alibaba Stock Monday?

Alibaba Group Holding Limited BABA stock is trading higher Monday. It launched its open-source large language models (LLMs) last week, intensifying competition with Meta Platforms Inc META.

Hong Kong stocks had a volatile session between gains and losses as the market tried to gauge the impact of the growth-boosting measures on China's economy.

Also Read: Alibaba's AI Endeavours

Analysts sought more powerful growth measures and reforms for market recovery, SCMP reports.

China's figures on foreign trade, inflation, and credit supply due in the coming week will play a crucial role in investors' decisions.

Meanwhile, Jack Ma's Ant Group prepared to offload a chunk of its Paytm shares amid escalating geopolitical tensions between India and China.

Paytm founder Vijay Shekhar Sharma will acquire a 10.3% stake from Alibaba's fintech affiliate, making the entrepreneur the company's biggest shareholder without any cash transaction.

Analysts hailed Sharma's increased commitment to Paytm. Alibaba, which owns about a third of Ant, completed the sale of its remaining stock in Paytm in recent months.

Price Action: BABA shares are trading higher by 0.82% at $97.69 premarket on the last check Monday.