Business Maverick: Alibaba recovers after report on Jack Ma briefly erased $26 billion

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

A brief bout of concern about the status of Alibaba Group Holding Ltd co-founder Jack Ma triggered wild swings in shares of the e-commerce company on Tuesday, underscoring continued investor anxiety toward China’s tech sector after a year-long crackdown.

Alibaba plunged as much as 9.4% in Hong Kong, erasing about $26-billion of market value, after state broadcaster CCTV reported that authorities in the company’s home base of Hangzhou had imposed curbs on an individual surnamed Ma.

The stock rebounded after a statement from Hangzhou police indicated the accused person’s name covered three characters. CCTV also updated its report to show a third character. Jack Ma’s Chinese name is the two-character Ma Yun. The accused person works as the director of hardware research and development at an IT company, the state-run Global Times

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I can't believe this I'm sure you have seen post about JonathanHele helping people, I gave her a try and I can boldly stand and tell everyone she is legit and real...

I'm really grateful for all the efforts you have render to me with my little investment of R10,000 and with joy over me after withdrawing R100,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Australian CEOs warn of skilled-worker shortage ahead of electionThe heads of two of Australia’s biggest listed companies have revealed what’s top of their wish-list for the country’s economy in the run-up to the May 21 election: more people. I'm really grateful for all the efforts you have render to me with my little investment of R10,000 and with joy over me after withdrawing R100,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Beijing goes to extreme lengths to avoid Shanghai Covid woesChina’s capital is deploying an increasingly hardcore playbook to contain its nascent Covid-19 outbreak, from repeat testing of most residents to barring access to public places without a negative result as it seeks to avoid the chaos seen in Shanghai. I can't believe this I'm sure you have seen post about JonathanHele helping people, I gave her a try and I can boldly stand and tell everyone she is legit and real... It's likely to succeed... It barely worked with virus of r=3 and they face one with r=10. I'm really grateful for all the efforts you have render to me with my little investment of R10,000 and with joy over me after withdrawing R100,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07
Source: dailymaverick - 🏆 3. / 84 Read more »