Alibaba, Nio Spike, EV Peers Mixed: What's Weighing On Hong Kong Stocks Today

Hong Kong shares edged higher by mid-day trading on Friday, with gains among energy and property stocks offsetting weakness in most tech and consumer discretionary sectors. Electric vehicle stocks traded on a mixed note. Tech Mixed:   After pausing for a breather on Thursday, Alibaba Group Holding Ltd  (NYSE: BABA ) shares rose sharply. Intraday, the stock hit its highest level since mid-February, suggesting improving sentiment toward the battered e-commerce giant. The upside comes despite news of China's cyberspace regulator announcing  mandatory security reviews over data export rules for Alibaba and its peers from Sept. 1. The South China Morning Post, a media company owned by Alibaba, reported that the company's founder Jack Ma  was spotted in a university in the Netherlands learning about improving food production. Alibaba has been on an extended correction since late 2020 amid the Chinese regulatory clampdown and deterioration ... Full story available on Benzinga.com