Shares Alibaba took off

Shares Alibaba Group took off after the appearance of news about the first foreign trip founder of Jack Ma company. During the bidding in the Hong Kong Stock Exchange on Wednesday, October 20, the Paper Alibaba rose at a peak by 9 percent – from 165 to 180 Hong Kong dollars per piece ($ 23.15). At the closure of trading, the stock price was 175.8 dollars (plus 6.67 percent compared with the closure of the previous session).

Also on the growth of alibaba shares, influenced the news of the release of their own development chips. The company plans to use the 128-nuclear Yitian 710 chip for processors in its data centers.

On October 19, the Alibaba English-speaking newspaper Hong Kong South China Morning Post with reference to an anonymous source reported that Ma flew to Europe for familiarization goals and participation in business negotiations. In Spain, the founder of Alibaba will present technologies related to the solution of environmental problems. The trip was the first for more than a year, although in 2018 MA spent one day from three in the road, notes the publication.

Ma began to appear in public from October 2020 after the criticism of China’s regulatory authorities. At the conference in Shanghai, the businessman attributed to Chinese state banks similarity with pawnshops and accused regulators in the containment of innovation. A few days later, the state management of market regulation (SAMR) of China began investigating against Alibaba on suspicion of violation of antitrust laws. Pursuit by the authorities broke out an exit to the IPO (primary public offering of shares) Ant Group – the subsidiary of Alibaba. Exit to the stock exchange was to become the largest in history in terms of the volume of attracted funds.

/Media reports.