The benchmark index of the Hong Kong Stock Exchange, the Hang seng, closed this Wednesday with gains of 1.08% after the big digitals rebounded after the reappearance of the billionaire founder of Alibaba, Jack Ma, who had been three months “disappeared” between frictions with Beijing.
Alibaba, what had fallen 18% since Ma’s last public appearance, today revalued by 8.52%, while the shares of the other companies in the sector that seem to be in the sights of the authorities, Tencent and Meituan, today rose 3.74% and 9.09%, respectively.
Thus, the selective added 320.19 points and is very close to the psychological barrier of 30,000 units, closing today with 29,962.47, while the index that measures the behavior of mainland Chinese companies listed on the Hong Kong stock market , the Hang Seng China Enterprises, rose 1.83%.
The effect of the rise of these three companies is especially noticeable in the division by sub-indexes, since Commerce and Industry, in which they are listed, rose by 3.4% while the others fell: Services (-0.34%), Real Estate (-0.4%) and Finance (-1.16%).
Jack Ma had been seen for the last time in October 2020. Photo: AFP
Not this Friday it was a good day for Chinese state titles, with China Unicom (-2.55%) being the biggest loser among telephone operators and Petrochina (-0.38%) taking that dubious honor among energy companies.
The trading volume for the session was HK $ 300.28 billion ($ 38.738 billion, € 31.91 billion).
The reappearance of Jack Ma
The billionaire founder of Chinese e-commerce giant Alibaba, Jack Ma, reappeared in recent hours in a virtual meeting with rural teachers after months without knowing his whereabouts, time in which the relationship between Beijing and the business group he created deteriorated.
In the video, posted on the newspaper portal Tianmu News, published in his native province (Zhejiang, East), Ma greets a hundred rural teachers from the Asian country selected for an award and tells them that “When the epidemic is over, we will meet again”.
Although his speech does not make any mention of his situation, it does mention that during “the last six months” -that is, a period that includes the time in which he has been away from the spotlights- he has remained active participating in the process of selection of teachers for the award he presented.
Ma had not appeared in public since the end of October 2020 and the international press had speculated about his whereabouts, even using the term “disappeared” after the friction it had with the Chinese Government, which forced the suspension in November of the IPO of its fintech Ant Group, which was to star in the largest public offering of the history.
With information from EFE.