A brief bout of concern about the fate of Alibaba Group Holding Ltd. co-founder Jack Ma triggered wild swings in shares of the e-commerce company on Tuesday, underscoring continued investor anxiety toward China’s tech sector after a year-long crackdown.
Alibaba plunged as much as 9.4% in Hong Kong, erasing about $26 billion of market value, after state broadcaster CCTV reported that authorities in the company’s home base of Hangzhou had imposed curbs on an individual surnamed Ma.
