Jack Ma buys Alibaba stocks, in show of support for struggling empire
Wednesday, 24 January 2024
Alibaba, a trailblazer in China's e-commerce sector, saw its shares surge by up to 6.7% in Hong Kong following news of Beijing's plans to inject a $278 billion stimulus into the market. Despite this boost, Alibaba's challenges and the unexpected departure of ex-CEO Daniel Zhang have fueled rumors that founder Jack Ma might take a more active role in the company's affairs.
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