Renewed optimism over Alibaba Group Holding Ltd.’s potential in artificial intelligence has turned the stock into Chinese investors’ favorite investment.
They bought a combined HK$13.5 billion ($1.7 billion) worth of Alibaba shares last week via the trading links between the mainland and Hong Kong, spending more than for any other stock, according to Bloomberg calculations based on exchange data. The weekly net purchases were higher than the totals in recent months and would be the highest monthly since April.