Asia Tech Wire (June 25) -- Alibaba's (9988.HK) e-commerce platform AliExpress announced on Monday that it has entered into a partnership with Brazilian retail giant Magalu.

Under the partnership, AliExpress will synchronize the sale of cross-border goods on Magalu, while Magalu will also set up a store on AliExpress to sell local goods.

Magalu shares rose more than 12% after the two sides announced the partnership.