Alibaba shares rise 8% in Hong Kong as Jack Ma palms over management of sister firm Ant Group

China International Import Expo (CIIE) - Day One

Lintao Zhang

Ali Baba (New York inventory market :BABA) rose some 8% on Monday in Hong Kong after founder Jack Ma ceded management of sister firm Ant Group, whose deliberate IPO in 2020 collapsed when Ma’s criticism of Chinese language regulators have put the 2 corporations in scorching water.