Jack Ma appears in public for the first time in three months

He was last seen in October when he criticized China’s financial system, after which the media reported on his disappearance.

Billionaire and Alibaba founder Jack Ma made his first public appearance in three months after criticizing the Chinese authorities.

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On the eve of the celebration of Buddha’s Enlightenment Day, Ma traditionally spoke to hundreds of rural teachers from different regions of China, but this time via the 50-second video.

In turn, shares of Alibaba immediately rose by 9.34% amid reports of the appearance of Jack Ma in public.

“Jack Ma’s reappearance has given investors peace of mind after a lot of rumours, allowing them to pile into the stock which had been a laggard in the market,” says Steven Leung, sales director of brokerage UOB Kay Hian in Hong Kong.

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Earlier, the media wrote that China intends to nationalize Alibaba. The initiative comes from the country’s ruling communist party. The nationalization will also affect Alibaba’s financial and technological subsidiary, Ant Group.