Chinese tech giant Alibaba Group (ASX:9988) is investing approximately $640 million to bolster film, television, and creative events in Hong Kong over the next half-decade.

Star performers include US aluminum manufacturer Alcoa (ASX:AA), who acquired Alumina (ASX:AWC) in a complete share transaction that appraises the Australian-based company at $2.2 billion.

The acquisition positions Alcoa as one of the major global producers of alumina and bauxite.

Alibaba Group (ASX:9988) is an international conglomerate that specializes in e-commerce, technology, and entertainment.

Alumina (ASX:AWC) is a company listed in Australia that is involved in bauxite mining, alumina refining, and aluminum smelting operations.