Beijing: Some people can predict the spiral down to hold the Alibaba group, when Jack Ma founder delivered blunt criticism against the China financial system last October.
But one year, Titan technology has lost $ 344 billion in market capitalization – the biggest removal of the value of shareholders globally, according to data compiled by Bloomberg.
Shortly after the present-known speech, Beijing suspended the Fintech arm group list and since then followed up on the hard action in the most passionate sectors in the country – causing Chinese shares to become tanks.
The value of lossalibaba shares sinks from the high all time at a record low three weeks ago in Hong Kong, because Beijing increased supervision of the practice of the company and urged the business restructuring of Fintech.
Although the recovery of 30% from October 5, the stock is still 43% lower than October 2020 Alibaba will report revenue on November 5.