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1/20, 10:35 AM (Source: TeleTrader)
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Alibaba jumps 8% after Ma shows up in public

Alibaba shares jumped around 8% both in premarket trade in New York and at the end of the trading day in Hong Kong after the company's founder Jack Ma made a public appearance for the first time in three months.

During Ma's absence, some concerns arose over his wellbeing since he did not show up in a final episode of a reality show he judges. The last time Ma was seen before today's video conference with teachers was at a forum in Shanghai where he criticized tech regulations in China. Meanwhile, China started an anti-monopoly probe into Alibaba and reports said President Xi Jinping had personally blocked Ant Group's initial public offering.

Alibaba shares were 7.54% higher in premarket trading in the United States at 4:32 am ET. The company's shares ended the day in Hong Kong with a jump of 8.52%.

Breaking the News / VP