11:44 - 4.03.2026

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March 4, Fineko/abc.az. Alibaba Group shares declined by 5.1% to HK$127.90 at the auction in Hong Kong, increasing Hang Seng Index's decline by almost 3%.

ABC.AZ informs that the cause was the unexpected resignation of Qwen's technical head of AI models, Lin Junyan, who announced his departure on the X platform without explanation. This happened the day after the presentation of the new line of models.

The situation has increased questions about company's prospects in the field of AI amid competition with ByteDance and DeepSeek.