Alibaba Stocks Return To Health After Jack Ma's Appearance

Miliarder China, Jack Ma (Sam Tsang / South China Morning Post)

JAKARTA - The Chinese billionaire, Jack Ma finally reappeared after a long absence from the public. Through a video call broadcast, Jack Ma spoke in front of 100 teachers from rural China.

The appearance of Jack Ma also brought news to many parties and his startup company, Alibaba. The reason is, a few hours after Jack Ma's 50-second video, Alibaba's stock immediately rose by about 11 percent on the Hong Kong Stock Exchange.

Quoted from Bloomberg, the share price of Alibaba Group (BABA) had touched 265 Hong Kong dollars per share. Investors welcomed the appearance of Jack Ma, without being subject to punishment or detention as circulated speculation.

Jack Ma Yun, the English teacher turned entrepreneur and former executive chairman of #Alibaba, showed up at a rural teacher-themed social welfare event via video link on Wed, his first public appearance since Alibaba came under tougher regulatory scrutiny.https: // t.co/VXywPHEeyv pic.twitter.com/DKCXhASIhu

- Global Times (@globaltimesnews) January 20, 2021

"The video shows that politically, Jack Ma is allowed to appear again. At least, this proves he is not detained or prohibited from appearing in public," said Jackson Wong, director of asset management at Amber Hill Capital, as quoted by the Straits Times, Thursday, 21 January.

Before becoming a billionaire and boss of Alibaba, Jack Ma himself was a former English teacher. From video footage circulating, Jack Ma attended a virtual ceremony at the annual Rural Teacher Initiative.

This event is also his first appearance, since October 2020. Before disappearing from the public, he had criticized and accused Chinese banks of operating with a "pawnshop" mentality regarding collateral for credit.

He also believes that the prevailing banking regulations are considered to hinder innovation and must be reformed to encourage economic growth. Ma's statement apparently made the Chinese government hotter ears, which then tightened the fintech business regulations so that Ma's company Ant Group failed to take the floor on the stock exchange.