Shares of Ant-linked firms rise, Alibaba jumps
Shares of listed mainland companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant. Hong Kong-listed shares of Ma's Alibaba jumped more than five percent. Shares of Longshine Technology Group, Jilin Zhengyuan, Shanghai Golden Bridge Infotech, Orbbec and Hundsun Technologies, in which Ant owns a more than five percent stake, also rose. Ant said over the weekend that founder Jack Ma will give up control of the company. (Reuters)