Jack Ma Ant IPO personally halted by Chinese President – With insights from The Wall Street Journal

Senior government leaders were furious about criticisms Jack Ma made of regulators; rebuke was the result of years of strained relations.
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South African investors should be taking careful notice of recent developments in China whose national president very publicly humiliated the country's highest profile entrepreneur. The in-depth story below from our partners at the Wall Street Journal explains how Xi Jinping was personally involved in scuttling last week's listing of the Ant Group's shares, due to become the world's biggest ever IPO. The SA angle is clear – around a quarter of the JSE's index is directly linked through Naspers to the fortunes of another Chinese tech giant, TenCent. If Xi sees fit to attack Alibaba's Jack Ma, logic suggests Tencent's Pony Ma (no relation) is equally exposed – and by definition, so too are investors in both Naspers and JSE-index linked funds.  – Alec Hogg

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