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Jack Ma Purchases Alibaba Stock to Back AI Push, SCMP Reports

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Jack Ma has bought Alibaba Group Holding Ltd. shares together with two senior Alibaba executives to signal backing for the company’s artificial-intelligence ambitions.

The move was reported by the South China Morning Post, citing people familiar with the matter, with Bloomberg also reporting on the development.

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Hong Kong Exports and Imports Jump in July on AI-Related Demand

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Hong Kong's July trade activity strengthened as demand for AI-related products supported both exports and imports, according to the Census and Statistics Department as reported by RTHK.

Total exports of goods rose 50.7% year on year to HK$672.5 billion in July, following a more than 53% rise in June. Imports climbed 41% to HK$677.4 billion.

In the January–July period, exports were up 40.9% from a year earlier, while imports advanced 40.6%. The seven-month trade deficit stood at HK$299.4 billion, equivalent to about 6.8% of Hong Kong's imports.

A government spokesman said there had been impressive growth in exports of AI-related electronic products and that robust global demand should continue to support merchandise trade. He cautioned, however, that downside risks remain from geopolitical tensions in the Middle East, protectionism among advanced economies, and rapid expansion of global AI investment.

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Kazakhstan Cuts Oil Output Forecast by 3.5 Million Tons After CPC Facility Attacks

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Citing Jin10, Kazakhstan's energy minister said on Tuesday that the oil output forecast would be reduced by 3.5 million tons after Ukrainian drone strikes hit facilities of the Caspian Pipeline Consortium (CPC).

The minister indicated that the 2026 production target has been adjusted from 98 million tons to 96 million tons as a result of the disruption.

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