Alibaba stock up 8% after Jack Ma reappears in public

Beijing: Ending speculation about his whereabouts, Alibaba Co-founder Jack Ma reappeared in public view after at least three months amid increased scrutiny of his companies by Chinese regulators. The news took the shares of the company up more than 8 per cent in Hong Kong.

The news of his reappearance came after a video of his on Chinese social media appeared.

In the video, Ma can be seen addressing rural teachers as part of one of his charity foundation’s initiatives, CNBC reported on Tuesday.

The annual event is hosted to recognize the achievements of rural educators.

The reports of his going out of public view emerged soon after the billionaire made some comments that sounded critical of China’s financial regulator, triggering speculation of him going “missing.”

Weeks after Ma made the critical comments, the flotation of his financial services firm Ant Group was cancelled by the Chinese authorities.

Last month, as China’s top market watchdog began investigation into alleged anti-competition practices by the e-commerce giant Alibaba, the country also laid out a “rectification plan” for Ma’s fintech venture Ant Group.

Image courtesy of (File photo)

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