Alibaba Group founder Jack Ma has purchased more than HK$600 million in Hong Kong-listed shares over consecutive days, according to a report by the South China Morning Post.
The purchases, disclosed by the newspaper, contributed to a 1.5% increase in Alibaba's shares during pre-market trading on Tuesday. The move follows the company's stated focus on artificial intelligence as a key driver of long-term growth.
A spokesperson for Alibaba did not respond to a request for comment regarding the reported transactions. The purchases were attributed to Ma's confidence in the company's AI strategy, as cited in the South China Morning Post report.
