Alibaba’s Hong Kong-listed shares surged more than 9% on Wednesday after the video was published. The gains put the stock on pace for its best day since last July, helping to erase some of the losses that have piled up since Ant Group’s IPO was pulled. The stock also powered a broader rally in Chinese tech stocks that trade in Hong Kong.
Reached for comment Wednesday, Alibaba referred CNN Business to a statement released by the Jack Ma Foundation, his philanthropic organization. The foundation said that Ma participated in an online award ceremony Wednesday for teachers called the Rural Teacher Initiative, which it created.
In the video, which Tianmu News said was filmed Wednesday morning, Ma is shown telling teachers that the traditional in-person celebration for the teaching initiative had been canceled because of Covid-19.
“We’ll meet again after the epidemic is over,” Ma said in the video. It also showed footage of Ma that it said was taken during a visit to an elementary school in Hangzhou earlier this month.
The event in Shanghai where Ma made those remarks was the last time he was seen in public before Wednesday — a notable absence for a man who typically has no issue with the spotlight.