The reported reappearance of Jack Ma overseas, for the first time in over a year, has resulted in shares of the tech giant Alibaba Group surging in Hong Kong. Ma is the founder and former chairman of Alibaba Group Holding, which owns the South China Morning Post (SCMP) which reported on Oct. 19 that he was on an agriculture study tour in Europe. Frenzied rumors have swirled over the whereabouts of the once China’s richest man over the past year. The sighting has fed speculation that Beijing has relaxed its almost year-long scrutiny over the e-commerce giant, resulting in Alibaba’s Hong Kong-listed shares jumping nearly 10 percent on Oct. 20, extending gains for the fourth consecutive session. By the end of the day, Tencent went up 2.1 percent, Meituan gained 2.9 percent, and Alibaba added 6.7 percent. On Oct. 20, the Hang Seng Tech Index jumped 2.7 percent, having bounced …
News of Jack Ma, Founder of Alibaba, Resurfacing Overseas, Props up Investor Confidence
October 21, 2021
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