Jack Ma's first public appearance after months in a video message to a group of teachers has brought a $58-billion breath of relief for Alibaba’s investors. As per Bloomberg’s report, a surge in Alibaba’s Hong-Kong shares on January 20 has seen a rush in the market valuation by $58 billion.
This is around one-fifth of the total market capitalisation of Indian companies listed on the BSE on January 20.
BSE CEO Ashish Chauhan in a tweet said, "January 20, 2021, closing market capitalization of all BSE listed equities Rs 197,70,572 crore. At Rs 73.03 per USD, Indian market capitalization topped USD 2.7 trillion for the first time ever.”
It was in October 2020, when Jack Ma was last seen when he criticised China's regulatory system and state-run banks.
The famous business tycoon’s disappearance was speculated when in January he did not appear on a reality TV show where was a judge.
"There's still a lot of uncertainty on regulators' next moves, but this does mean the status of Jack Ma is much better than a lot of people speculated," Fang Kecheng, a professor at the Chinese University of Hong Kong told Bloomberg.
Analysts told the publication that his appearance is a sign of the likelihood of jail time or a government takeover of the e-commerce major.
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Regulatory action by the Chinese government has made the Ant Group - a subsidiary of Alibaba to postpone its plans for a $37 billion initial public offering (IPO).
"There's still a lot of uncertainty on regulators’ next moves, but this does mean the status of Jack Ma is much better than a lot of people speculated," Fang Kecheng, a professor at the Chinese University of Hong Kong was quoted as saying by the website.