The stock price of Alibaba-W (09988) has witnessed a significant upswing, climbing more than 4% to reach a 4.02% increase as of the latest reporting time. It is currently trading at HK$160.6, with a substantial turnover of HK$2.892 billion. In terms of recent developments, on October 17, Alibaba and Ant Group jointly made an announcement stating that they would collectively invest a total of US$925 million (equivalent to approximately HK$7.2 billion) to acquire 13 floors of commercial office space at One Island East Center in Causeway Bay. This space will serve as the headquarters for both companies in Hong Kong. This transaction stands out as the largest office property deal in Hong Kong since 2021, underscoring the two companies' acknowledgment of Hong Kong's pivotal role as an international business hub and a global financial center. Moreover, it reflects their optimism regarding Hong Kong's emerging position in the global wave of technological innovation.