File image: Jack Ma
Jack Ma's video message to a group of teachers, his first public appearance in months, led to a $58-billion relief for Alibaba's investors.
After a surge in Alibaba's Hong Kong-listed shares on January 20, the market valuation rose by $58 billion, Bloomberg reported.
To put this in perspective, this is around one-fifth of the total market capitalisation of Indian companies listed on the BSE on January 20.
"January 20,2021, closing market capitalization of all BSE listed equities Rs 197,70,572 crore. At Rs 73.03 per USD, Indian market capitalization topped USD 2.7 trillion first time ever," BSE CEO Ashish Chauhan said in a tweet.
Ma’s last public appearance before this was in October 2020, when he criticised China's regulatory system and state-run banks.
Speculation surrounding his disappearance began in January as he did not appear on a reality TV show where was a judge.
Analysts told the publication that his appearance is a sign of the likelihood of jail time or a government takeover of the e-commerce major.
"There's still a lot of uncertainty on regulators' next moves, but this does mean the status of Jack Ma is much better than a lot of people speculated," Fang Kecheng, a professor at the Chinese University of Hong Kong told Bloomberg.
The Chinese government's regulatory action has forced Alibaba-affiliate Ant Group to suspend its plans for a $37 billion initial public offering (IPO).
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