Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares

Jan 9 2023 by Business Insider

 

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Alibaba shares surged after news emerged founder Jack Ma was ceding control of affiliate fintech firm Ant Group.

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Alibaba shares rose 9% after news emerged founder Jack Ma was ceding control of affiliate fintech firm Ant Group. The gains also come on the back of a broader market rally in Asian shares, thanks to China's reopening. A top Chinese central banker suggested over the weekend Beijing's tech crackdown is coming to a close.

Shares of Alibaba surged to a...

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