Alibaba Group’s shares climbed to a reported HK$115.9 on Monday, extending gains after founder Jack Ma and top executives reportedly made substantial stock purchases in recent weeks.
Ma acquired shares reportedly worth more than HK$600 million across consecutive days, according to the South China Morning Post. The purchases were framed as an endorsement of Alibaba’s artificial intelligence initiatives, signaling confidence from leadership amid broader market volatility.
Chairman Joe Tsai and CEO Eddie Wu also reportedly added to their positions, with Tsai’s total purchases reportedly exceeding HK$160 million and Wu participating in the buying activity. Combined, Tsai and Wu’s acquisitions reportedly surpassed HK$200 million. A Monday shareholding disclosure reportedly showed Tsai’s stake in Alibaba had increased to a reported 1.44%.
The advance in Alibaba shares occurred alongside a recovery in the Hang Seng Index, which had earlier posted steep losses in recent sessions. The broader market sentiment reportedly provided a constructive backdrop for the buying activity, though the stock’s movement remained tied to company-specific developments.
