Jack Ma, founder of Alibaba Group Holding, purchased more than HK$600 million in Hong Kong-listed Alibaba shares over consecutive days, according to a report by the South China Morning Post.
The acquisitions followed a 1.5% increase in Alibaba’s pre-market share price on Tuesday, the day the report was published. The South China Morning Post, which is owned by Alibaba, cited Ma’s reported confidence in the company’s long-term growth prospects, particularly in artificial intelligence and broader expansion opportunities.
Alibaba did not respond to a request for comment regarding the purchases or the share price movement.
