Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares
approved Ant to more than double its registered capital in its consumer finance arm to 18.5 billion Chinese yuan . This led to an 18% gain in Alibaba's stock price last week, as"the market believes the governmental investment means that the conflict between Jack Ma and the authorities has come to an end," Ming Lu, the China head at Singapore-based Aequitas Research wrote in a note on Monday.
Overall, Asian shares also rallied on Monday. China's reopening boosted market sentiment after the countryon Sunday, allowing incoming travelers to enter without quarantine — a major reversal after three years of strict zero-COVID policies. Outside China, South Korea's Kospi closed 2.6% higher, while Nikkei futures were up 0.9%. Japanese markets were closed for a public holiday on Monday.There could be further upside ahead, Nomura analysts wrote in a note on Monday.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up controlShares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant.
Lire la suite »
Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumpsShares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
Lire la suite »
Jack Ma cedes control of Chinese fintech giant Ant Group | EngadgetJack Ma had previously held more than 50 percent of voting shares at Ant Group..
Lire la suite »
Jack Ma to relinquish control of Ant group | CNN BusinessChinese billionaire Jack Ma will no longer control Ant Group after the fintech giant's shareholders agreed to reshape its shareholding structure, according to a statement released by the company on Saturday.
Lire la suite »
Chinese billionaire Jack Ma to give up control of Ant GroupA restructuring of China's Ant Group has founder and billionaire Jack Ma giving up control of the company.
Lire la suite »