Alibaba stock rose 5% in Hong Kong after founder Jack Ma emerged following weeks of speculations of his whereabouts, reports CNBC. In a social media video post, Ma addressed rural teachers in the resort city of Sanya as part of one of his charity foundation’s initiatives.
- In October, Ma made comments that appeared critical of China’s financial regulators, which prompted his business empires’ scrutiny.
- Since Ma’s comments, he has not been seen, leading to the speculations of his whereabouts.
- In December, China’s State Administration for Market Regulation opened investigations into Alibaba over monopolistic practices.
- Regulators have also asked Ant Group to rectify its business and comply with regulatory practices after earlier stopping a record initial public offering.
- Chinese regulators are pushing for new rules on so-called microlending, which includes capital requirements for technology firms offering loans.
Alibaba stock is currently gaining. 9988: HKG is up 8.52%