Alibaba cutting the stem: Because Clearly, the Stock Market Wasn't Exciting Enough Already

Hang Seng Index has been partying like it’s 1999, adding a casual US$1 trillion in market capitalisation since January. That’s right, it’s been making it rain so hard, even Alibaba and Tencent are dusting off their best earnings reports for the occasion.

Alibaba, which, fun fact, owns the very newspaper you're reading – talk about owning the narrative, am I right? – has been strutting its stuff up 1.8% to a seven-month high. It’s like watching your ex show up to a party in peak form, and you can’t decide if you’re impressed or just annoyed. Meanwhile, Tencent is out there flexing with a 1% gain, hitting a level not seen since last April. It’s as if WeChat got a group chat from its shareholders saying, "Don’t embarrass us, we’ve got company!"

And then there's ESR Group, soaring like it's got wings after a privatisation bid. No one knows the offer price yet, but the shares took off like someone yelled “fire sale” in a crowded theater. Meanwhile, poor Galaxy Entertainment and Sands China are stumbling around like they missed the memo that the bull run was supposed to be a good thing.

But the real MVP here is the Hang Seng Index itself, climbing above the 19,000 level for the first time since last August. It’s like that moment in a movie where the underdog finally catches a break, and the crowd goes wild – except the crowd is a bunch of hedge fund managers who probably haven’t slept in days.

So, as we watch Alibaba and Tencent prepare to show us their financial dance moves, let's just appreciate the chaotic beauty of the stock market. It's the only place where you can lose your shirt and still leave with a smile, hoping for a comeback next quarter.