TASS said Russia is prepared to assist Mozambique in eliminating a terrorist threat.

Morgan Stanley cut its PT on Alibaba (BABA.N) to $180 from $190, a 5% reduction, and reiterated an overweight rating and top-pick view. After a recent share pullback the firm says the stock now trades at an attractive valuation, roughly 13x FY2028 PE; its latest DCF-derived target equates to about 23x FY2028 PE. Morgan Stanley raised revenue forecasts for FY27–28 by 2–3% on a larger cloud contribution, partly offset by weaker e-commerce revenue; EBITA forecasts are largely unchanged. The bank expects Alibaba’s cloud revenue growth to accelerate to 45% YoY in the quarter to June (FY27) and to continue accelerating in subsequent quarters. Excluding some one-off Spring Festival promotional costs, Morgan Stanley sees ‘other losses’ narrowing to RMB16.5 bln in FY27 Q1, but warns rising token prices will keep model-training costs for the Qianwen model sizable and projects FY27 total ‘other losses’ of about RMB72 bln.

恒生科技指数盘初涨2%，恒指涨0.5%，芯片股走强，芯智控股 (02166.HK)涨超17%，兆易创新(03986.HK)涨超10%，华虹宏力(01347.HK)涨超8%，中芯国际(00981.HK)涨超6%。