Afternoon straight pull-up! Alibaba suddenly announced! Hong Kong stocks, big news again!

Alibaba Leads the Charge in Hang Seng Tech!

In the afternoon, Alibaba’s Hong Kong stocks surged sharply, rising over 4% at one point, turning the Hang Seng Tech Index from decline to gain. Hong Kong-listed Kingsoft Cloud and GDS Holdings both rose over 16%. The A-share computing power concept stocks remained active, with Data Portal (603881) hitting the daily limit, and Hang Steel股份 (600126), Capital Online (300846), among others, also surged.

Alibaba Cloud announced that due to the explosion in global AI demand and supply chain price increases, prices for AI computing power, storage, and other products have risen by up to 34%. Specifically, products like the Pingtouge Zhenwu 810E computing cards increased by 5%–34%, and the file storage product CPFS (Intelligent Computing Edition) rose by 30%.

Additionally, recent news has emerged about Middle Eastern funds returning to Hong Kong. Hong Kong SAR Chief Executive John Lee stated yesterday that while the Iran conflict may cause some short-term shocks and volatility, it also presents opportunities. Hong Kong remains very safe and stable, serving as a safe haven for capital, with ongoing long-term capital inflows.

Alibaba “Drives” a Wave of Gains

On March 18, midday, Alibaba Cloud announced a price adjustment for AI computing power, storage, and other services, citing the surge in global AI demand and supply chain price hikes, which have significantly increased core hardware procurement costs. After careful assessment, the company decided to adjust prices starting April 18, 2026. The maximum increase for AI computing power and CPFS (Intelligent Computing Edition) services is 34%. Specifically, products like the Pingtouge Zhenwu 810E computing cards increased by 5%–34%, and the CPFS (Intelligent Computing Edition) storage rose by 30%.

According to sources, another key reason for the price hike is the “explosive growth in Token usage.” Alibaba Cloud’s MaaS business, BaiLian, achieved its highest growth rate from January to March this year. Alibaba Cloud is shifting scarce AI computing resources toward Token-related services.

Stimulated by this, Alibaba’s stock surged in the afternoon, rising over 4%, with A-shares in the computing power sector increasing nearly 4%. Major international banks raised their forecast for cloud business growth in fiscal year 2027 to 45% (the highest in the market, previously 40%) and increased the mid-point of their SOTP valuation by 2% to $245 per share, mainly due to higher cloud valuation. The optimistic scenario valuation is $260 per share. As of the evening of the 17th, Alibaba’s US stock closed at $136.57 per share.

According to Galaxy Securities, OpenClaw has ranked first in daily popular applications on OpenRouter for several consecutive days, with its Token consumption far exceeding the second place. In the first week of March 2026, the platform processed 14.8 trillion Tokens, doubling from the beginning of the year. Workflows driven by Agents have output more than half of the platform’s total Tokens. This indicates a shift in AI industry value from model capability to task completion ability, causing structural impacts on computing infrastructure and promoting inference demand to expand through “central + edge” computing collaboration.

John Lee Speaks Out

Hong Kong SAR Chief Executive John Lee said yesterday that while the Iran conflict may cause some short-term shocks and volatility, it also presents opportunities. Hong Kong remains very safe and stable, serving as a safe haven for capital, with ongoing long-term capital inflows. This benefits Hong Kong’s development as a financial center, especially in family offices, risk management, and asset management, and may positively influence the offshore RMB market.

Lee pointed out that the Iran conflict has disrupted shipping through the Strait of Hormuz, potentially reducing the transportation and supply of crude oil and natural gas, which could lead to higher prices, affecting gasoline and logistics costs. The aviation sector will face significant pressure, with continued air traffic control, fewer flights, and rising fuel and other costs, indirectly pushing up certain prices in Hong Kong.

Regarding opportunities, he noted in an interview with Hong Kong Wen Wei Po that Hong Kong has built good cooperative relationships with the Middle East over the years, including leading delegations to four influential Middle Eastern countries. Many cooperation projects have been completed, contracts signed, and some projects are underway or in certain stages. “Hong Kong’s cooperation with the Middle East will not be affected by the Middle East situation.”

He emphasized that Middle Eastern countries need to diversify risks and have ample funds. Under “One Country, Two Systems,” Hong Kong can ensure regional security and investment safety, maintaining the security of funds and stability of the regional situation. Hong Kong’s role as a “super connector” and “super value creator” linking mainland China and international markets is unmatched. “Hong Kong’s advantages—security, freedom, no capital controls, no personnel or data restrictions, no cargo controls—will become even more prominent.”

He highlighted that Hong Kong ranks among the top five in many global competitiveness indicators. Coupled with national opportunities and connectivity, he believes Hong Kong’s prospects outweigh challenges. Therefore, cooperation with the Middle East will not slow down. “Even amid tensions in the Middle East, each country will consider its own interests, but if their funds need outlets, Hong Kong will actively engage with Middle Eastern investors.”

Lee revealed that some Middle Eastern investors are already considering how to leverage Hong Kong’s safety and opportunities, and he believes financial professionals will continue providing relevant information, further highlighting Hong Kong’s advantages as an international financial, trade, and innovation hub.