Alibaba's HK stock jumps on report founder Ma on study tour, units soar

Baozun

20/10/2021 08:41

(Add Alibaba units' move, update stock price)
    ** Alibaba Group's Hong Kong shares  9988.HK  rise as much
as 9.2% to HK$179.90, their highest since Aug. 16, extending
gains for fourth consecutive session
    ** Stock is the second biggest percentage gainer on Hang
Seng Index  .HSI , Hang Seng Tech Index  .HSTECH  and the Hang
Seng China Enterprises Index  .HSCE 
    ** Founder Jack Ma is in Europe on a study tour, South China
Morning Post reported on Tuesday, making it the Chinese
billionaire's first trip abroad in over a year  urn:newsml:reuters.com:*:nL4N2RF31Q
    ** Ma has largely been out of public view since a speech
last year in which he publicly criticised China's regulatory
system
    ** Ma's empire came under heavy scrutiny by Chinese
regulators following the speech, and led to the suspension of
Ant Group's $37 billion blockbuster IPO
    ** Brokers say investors see it as a sign of central
government's relaxing scrutiny over the group 
    ** Alibaba Health  0241.HK  soars 17.6% in the best day
since July 29; biggest percentage gainer on the Hang Seng Index
 .HSI , tech index  .HSTECH  and Hang Seng China Enterprises
Index  .HSCE  
    ** Alibaba Pictures  1060.HK , Sun Art Retail  6808.HK  and
Baozun Inc  9991.HK  rise between 3.4% and 4.9%
    ** YTD, Alibaba's Hong Kong stock is down about 24%
    ** Hang Seng Tech Index  .HSTECH  jumps 2.7%, Hang Seng
China Enterprises Index  .HSCE  rises 1.4%, and the Hang Seng
Index  .HSI  up 1.2% 

 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))