Alibaba’s two most senior executives bought about $15.3m of their own company’s shares on Monday. The stock had just fallen further than at any point in more than a year.
Chairman Joe Tsai and chief executive Eddie Wu spent a combined HK$120m, according to filings with the Hong Kong exchange.
What each of them bought
Tsai paid roughly HK$80m for 720,000 shares. Wu bought 350,000 for about HK$40m.
Xinmei Shen and Coco Feng reported the purchases for the South China Morning Post, which called them a vote of confidence.
