Technology giants Alibaba and Tencent continue their investment drive

Technology duo Alibaba and Tencent continued their investment momentum in the new year as the deep-pocketed pair continue to seek new opportunities beyond their home turf.

E-commerce behemoth Alibaba said on Tuesday it has boosted its stake in China International Capital Corp Ltd, the nation's leading investment bank, a move analysts said could help it with financial transactions around the world.

Through the purchase of 11.7 percent of CICC's Hong Kong listed shares, Alibaba now holds 4.84 percent of the bank's issued shares, which can help the pair cooperate on finance, technology and data.