Shares in Chinese internet behemoth Alibaba soared on Wednesday as its billionaire founder resurfaced after two months, ending speculation about his whereabouts.
Market heavyweight Alibaba ended the day in Hong Kong.
Up 8.52 per cent at HK$265.00 after Ma appeared in an online video.
Reassuring investors who had spooked when he hauled.
In front of regulators following an October speech critical of China’s financial system.
Alibaba’s shares gained more than 4% in Hong Kong. While it’s still unclear where Ma is, his emergence in a public forum may help quell persistent rumors about his fate while Beijing pursues investigations into online finance titan Ant Group Co. and Alibaba Group Holding Ltd.
The executive had kept out of public view since early November, when Chinese regulators torpedoed Ant’s $35 billion IPO, tightened fintech regulations, then ordered an overhaul of Ant and launched a separate antitrust probe into Alibaba — all in a span of days.