Alibaba Adds $123 Billion in Value in Stunning Comeback Rally
It's been Alibaba's day, week and month. The company has added $123 billion in market value in February, helped by a DeepSeek-driven rally in Chinese tech stocks, its tie-up with Apple to roll out AI features in China and Beijing's rehabilitation of co-founder Jack Ma. Its shares rose 15% in Hong Kong on Friday alone after Alibaba reported higher sales and said it will boost spending on AI over the next three years. The surge comes after the company was earlier hammered by a government crackdown on the tech industry and a post-Covid slump in its business. Even after jumping almost 60% this month, Alibaba shares are still down by more than half from their 2020 peak, meaning there's still plenty of room for the rally to continue. —Richard Frost
Standard Chartered will hand back $1.5 billion more to shareholders as it reported fourth-quarter earnings that beat estimates, boosted by a strong performance in its trading and wealth business. The London-headquartered bank announced a fresh buyback which would bring total shareholder distributions to $4.9 billion since 2023. The bank is in the midst of a corporate cost-saving program. CEO Bill Winters saw his total pay package jump 46% to £10.7 million ($13.6 million).
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