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CCTV was criticized for publishing a news that ‘the Ma was arrested’, causing Alibaba to lose 26.5 billion USD

CCTV was criticized for publishing a news that Ma was arrested, causing Alibaba to lose $ 26.5 billion - Photo 1.

Billionaire Jack Ma appeared very little after the companies he founded were placed in the sights of Chinese market regulators. Some speculations about the whereabouts of this billionaire have blossomed since then – Photo: REUTERS

CCTV’s news is posted on the station’s news app around 9:00 am on 3-5. It said that a man with the surname Ma and his full two-letter name was arrested in Hangzhou on suspicion of anti-government activities.

Hangzhou is the headquarters of Alibaba and Alibaba founder’s full name also includes 2 letters Jack Ma (Ma Van).

After that, CCTV updated the first news, saying that the suspect surnamed Ma had a full name consisting of 3 letters, thereby dispelling the rumor that Jack Ma was arrested.

Global Times more information about the suspect as only 37 years old, born in Wenzhou and working as a hardware research director at a technology company. Meanwhile, billionaire Jack Ma was born in 1964 in Hangzhou.

According to Global TimesThe suspect, surnamed Ma, “formed an anonymous group online and acted as an agent of foreign forces, spreading rumors, disinformation, publishing independence declarations aimed at dividing the country.” and overthrow the state”.

According to Nikkei AsiaCCTV’s report created a debate on Chinese social media, in which the majority criticized the station.

“Can CCTV be put under suspicion of market interference?” asked one Weibo user in Shanghai.

“I don’t understand why they do that. There are a lot of people with the surname Ma in China,” asked another user. “I also always believe that CCTV will never make such a mistake of name,” replied one Weibo user in Chongqing.

Alibaba lost 26.5 billion USD in market capitalization

According to the sheet Nikkei AsiaIn just a few minutes after the news was published on May 3, Alibaba’s stock price fell 9.4% on the Hong Kong Stock Exchange, blowing away about $ 26.53 billion in market capitalization of the group. group.

The sell-off is because many people are afraid of being punished even though Jack Ma no longer holds any official position at this corporation. According to Nikkei Asiaanxiety increased when a number of other Chinese newspapers republished CCTV’s news.

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