Chinese ecommerce giant Alibaba soared on Monday but Asian and European markets were mixed after Wall Street retreated from record highs.

Alibaba rocketed almost 20 percent following bumper results on Friday, including a surge in AI revenue. Its US-listed shares added 13 percent on Friday too.

Alibaba lifted the Hang Seng by two percent and Shanghai rose half a percent.

Other Asian indexes were in the red, however, with Japan's Nikkei off more than one percent as chip shares came under pressure.

Seoul's Kospi was also off even after South Korean data showed record monthly semiconductor exports in August despite growing pressure from US tariffs.

In Europe, London and Paris were higher in early trade but Frankfurt fell back. Oil prices edged up.

On Friday US stocks fell, with the Dow a

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