- China offers $325 bn in fiscal stimulus for ailing economy
- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
Hong Kong leads Asian markets higher on Alibaba boost
Asian stocks were broadly up on Wednesday to buck losses on Wall Street, led by massive gains for Chinese tech behemoth Alibaba after it announced it would split into six business groups.
The Hangzhou-based firm said the changes were intended to "unlock shareholder value and foster market competitiveness".
Alibaba is one of China's most prominent tech firms, with operations spanning cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.
By 10 am Wednesday (0200 GMT), its Hong Kong-listed shares were up by nearly 14 percent. Its New York-listed shares were also up in the previous session.
"Investors could get hyped on the positive side in the short term," said Willer Chen, senior research analyst at Forsyth Barr Asia.
"Alibaba's shakeup plan may also lead investors to think of the potential for other tech firms like Tencent to follow suit."
Tencent and Baidu also advanced, as did Tokyo-listed Softbank, which owns a large stake in Alibaba.
By mid-morning, the Hang Seng Index was up by more than two percent.
In Tokyo, the Nikkei 225 was up by just under half a percentage point, while Taipei and Bangkok also rose.
Shanghai and Sydney posted small losses.
Following a flattish day on European bourses Tuesday, US stock indices finished modestly lower, shrugging off a better-than-expected consumer confidence reading.
The closely watched consumer confidence index increased in March to 104.2 from 103.4 last month, The Conference Board said in a statement.
"While consumers feel a bit more confident about what's ahead, they are slightly less optimistic about the current landscape," said Ataman Ozyildirim, senior director for economics at The Conference Board.
All three major US indices declined, with the S&P 500 losing 0.2 percent.
The gains followed last week's rout over concerns that the turmoil in the sector -- which sparked the UBS takeover of Credit Suisse -- could hit other major institutions, such as German giant Deutsche Bank.
Bank of England governor Andrew Bailey, whose institution ramped up interest rates last week, sounded a note of caution over banking-sector upheaval.
"We are very vigilant. We are in a period of tension, tightness and alertness," he told a parliamentary committee on Tuesday.
He added: "My very strong view about the UK banking system is that it is in a strong position, both capital and liquidity wise."
- Key figures around 0215 GMT -
Tokyo - Nikkei 225: UP 0.39 percent at 27,625.99
Hong Kong - Hang Seng Index: UP 2.06 percent at 20,191.68
Shanghai - Composite: DOWN 0.16 percent at 3,240.21
London - FTSE 100: UP 0.2 percent at 7,484.25 (close)
New York - Dow: DOWN 0.1 percent at 32,394.25 (close)
Euro/dollar: DOWN at $1.0839 from $1.0850
Pound/dollar: DOWN at $1.2328 from $1.2341
Euro/pound: UP at 87.92 from 87.89 pence
Dollar/yen: UP at 131.63 yen from 130.90 yen
West Texas Intermediate: UP 0.59 percent at $73.63 per barrel
Brent North Sea crude: UP 0.33 percent at $78.91 per barrel
-- Bloomberg News contributed to this story --
P.Petrenko--CPN