BABA-SW (09988.HK) Lifts ~5%; Brokers Expect More Catalysts Down the Line

　　BABA-SW (09988.HK) +3.750 (+5.130%) Short selling $332.24M; Ratio 18.372% opened 2.33% higher today and continued its uptrend, once lifting 4.9% to a high of $76.7. It now trades at $76.3, up 4.38%, with 23.7363 million shares traded, involving $1.801 billion in turnover.

　　Taobao Tmall Group, a subsidiary of BABA, has implemented a “Refund Only” service following Pinduoduo, allowing buyers to get refunded without needing to return the purchased goods. Taobao recently announced that it has optimised its “Refund Only” strategy to enhance merchants post-sale autonomy.

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　　Morgan Stanley believed this optimisation promoted a more balanced development between merchants and consumers, and enhanced Taobao's and Tmall's earning power. Jefferies commented that despite the macroeconomic uncertainty, there are more catalysts in the future, and maintains BABA's Buy rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

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