Bitcoin rally and Alibaba share purchases: the numbers moving markets

ByAtlasnews

Aug 28, 2026 #Alibaba, #Alibaba Group Holding, #artificial intelligence, #bitcoin, #Hong Kong, #Jack Ma, #Joe Tsai, #Rating and Valuation Department, #SCMP Business, #shein, #Washington

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Bitcoin rally and Alibaba share purchases: the numbers moving markets

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Dress form mannequins bearing Shein logos at a garment factory in Guangzhou’s Panyu district last month. Photo: Reuters

Yulu AoPublished: 3:00pm, 28 Aug 2026

Bitcoin and gold rallied this week as the size of America’s sovereign debt continued to haunt global financial markets. Meanwhile, Alibaba Group Holding’s top executives and founder Jack Ma bought back shares, and Shein announced plans for a smaller Hong Kong initial public offering than previously expected.

Here are some of the figures that have drawn the most market attention this week.

Founder, executives buy over HK$800m of Alibaba shares

Alibaba founder Ma, chairman Joe Tsai and CEO Eddie Wu Yongming collectively bought more than HK$800 million (US$102 million) worth of the company’s Hong Kong-listed shares within days.

Ma accounted for more than HK$600 million of the purchases, while Tsai and Wu spent a combined HK$202 million, signalling confidence in Alibaba – owner of the South China Morning Post – as it steps up its push into artificial intelligence.