PRE-MARKET CHINESE STOCKS NEWS: Alibaba (9988 HK) unveiled a USD 432mln campaign to push mass-market adoption of its AI

Newsquawk Staff · 3 Feb 2026, 01:29 UTC

Alibaba (9988 HK) - Co. unveiled a USD 432mln campaign to push mass-market adoption of its AI, as rivalry with Tencent (700 HK), Baidu (9888 HK) and ByteDance intensifies. (SCMP)

CSPC Pharmaceutical (1093 HK) - Co. announced its clevidipine injectable emulsion was approved by China’s NMPA. (IRAsia)

Wuxi Lead Intelligent Equipment Co Ltd (300450 CH) - Co. seeks to raise up to HKD 4.3bln in a Hong Kong listing. (Newswires)

Other News

Chinese Premier Li is urging the active use of AI across manufacturing, according to state media. (Newswires)

Shanghai launched a substantial purchase of existing homes for affordable rental housing. (Newswires)

US President Trump launched a USD 12bln mineral stockpile to counter China. (Newswires)

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US Market Open, 6 Nov, 10:48 UTC · what it led with

APAC stocks were pressured; KOSPI slumped 6% following hefty losses in Samsung and SK Hynix.
USD is firmer against all G10 peers awaiting the US NFP report.

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Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
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EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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