Alibaba Q1 revenue rises 9%

Hong Kong-listed Alibaba Group reported a 9-percent year-on-year rise in revenue for the first quarter of fiscal 2027, hitting 268.95 billion yuan ($39.63 billion). According to the earnings report, external revenue from Alibaba Cloud jumped 45 percent year-on-year, marking its fastest growth in 22 quarters.

Yuan weakens against greenback

The central parity rate of the yuan weakened 9 pips to 6.7817 against the US dollar on Friday, said the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

XINHUA - CHINA DAILY