At the morning session of the Hong Kong Stock Exchange quotations of Alibaba, whose founder is Jack Ma, fell by 9.4%. They ended the trades with a fall of 1.7%. The fall in securities began after the message of China Central Television that the authorities of Hangzhou on April 25, introduced restrictions on a man named Ma, according to Bloomberg.

Subsequently, a clarification was published that the restraints imposed on Ma, a Chinese citizen, are written in two characters, while the name Jack Ma (whose name is actually Ma Yong) in Chinese consists of only one character. The man is accused of inciting subversion of state power.

Jack Ma has not been on Alibaba’s board of directors since 2020.