Analysis
On May 3, Beijing revealed the investigation of a national security case involving a person with the surname Ma. The coverage immediately caused Alibaba’s stock to tumble more than 9 percent in a day, because people took it that the co-founder of Alibaba, Jack Ma, had been arrested.
Chinese state outlet CCTV reported Ma Mou, who has the surname Ma, is a “foreign hostile force engaging in establishing an interim congress with the intention to subvert state power.”
The report stated that Ma Mou’s anti-communist organization, targeting the young and students, has a political agenda of inciting secession in the regime.
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