Since losing sympathy with the Chinese authorities, billionaire Jack Ma’s movements have always been closely watched, even his nighttime excursions in Tokyo were reported by the press. This week, rumors regarding the founder of Alibaba group have spread to the Hong Kong stock market, sending the share price of a biochemical company soaring nearly 800%.
On the morning of February 1, shares of Chia Tai Enterprises International, a company majority owned by Thailand’s Charoen Pokphand Group (CP Group), traded at 6.89 HKD at one point, a sharp increase compared to that of Thailand’s Charoen Pokphand Group (CP Group). at HKD 0.79 at the end of last week, before closing at HKD 5.1, an increase of nearly 9% on the day.
However, even with the share price skyrocketing, Chia Tai’s market capitalization is still only around 1.5 billion HKD ($191 million). In contrast, shares of Bangkok-listed Charoen Pokphand Foods, CP Group’s flagship company, are down 4.5 percent year-to-date.
| Billionaire Jack Ma (photo: AP). |
The rally of this stock started on Monday, following the Hong Kong Economic Times (China) reported that billionaire Jack Ma met billionaire Dhanin Chearavanont – Thailand’s richest man and senior chairman of CP Group. , with his son Suphachai Chearavanont – CEO of CP Group – during the Lunar New Year holiday in Hong Kong. However, the newspaper did not cover the issues they discussed.