The stock prices of Alibaba Group and Tencent rose in Hong K...

The stock prices of Alibaba Group and Tencent rose in Hong Kong today after the Chinese government was optimistic that it would no longer be suppressed by the regulation of the national technology industry. Earlier, China imposed a fine of 984 million US dollars on Ant Group founded by Jack Ma to end a long period of supervision. Reuters said the end of this regulatory crackdown has attracted investors to bet.

Alibaba announced that Ant Group will hold a shareholders' meeting to approve (among other things) Ant Group's proposal to repurchase no more than 7.6% of its shares from all of its shareholders. The proposed share repurchase price represents Ant Group's valuation of approximately RMB 567.1 billion (approximately US$78.48 billion). According to information, the shares repurchased this time will be transferred to Ant Group's employee incentive plan. Alibaba Group is considering whether to participate in the proposed share repurchase.

In terms of policy, it brings positive benefits to private enterprises. There will be room for recovery in individual stock prices with high foreign investment participation in optional consumption, technology, etc., but the sustainability of stock price increases depends on actual policy implementation.