Alibaba Group founder Jack Ma Yun has been spotted in Hong Kong – almost a year after regulators pulled the plug on Ant Group’s initial public offering.
Two highly-placed sources told The Standard that they saw Ma in the city on October 1, months after he laid low in the mainland away from public limelight.
While Ma has appeared in several mainland events since the beginning of this year, it was the first confirmation that he came to Hong Kong amid rumors that he was banned from leaving the country.
It is unclear who Ma met with during his time in Hong Kong and whether he has since left the city. Ma’s appearance is considered a benchmark of the tech giant’s relationship with mainland authorities.
Coincidence or not, Alibaba shares went up 18 percent from HK$142.2 on September 30 to HK$167.8 Monday. The surge exceeded that of other tech heavyweights such as Tencent, whose shares increased by 7.49 percent to close at HK$496 during the same period.
Two highly-placed sources told The Standard that they saw Ma in the city on October 1, months after he laid low in the mainland away from public limelight.
While Ma has appeared in several mainland events since the beginning of this year, it was the first confirmation that he came to Hong Kong amid rumors that he was banned from leaving the country.
It is unclear who Ma met with during his time in Hong Kong and whether he has since left the city. Ma’s appearance is considered a benchmark of the tech giant’s relationship with mainland authorities.
Coincidence or not, Alibaba shares went up 18 percent from HK$142.2 on September 30 to HK$167.8 Monday. The surge exceeded that of other tech heavyweights such as Tencent, whose shares increased by 7.49 percent to close at HK$496 during the same period.
