Jack Ma Meeting Rumor Sends Stock of Thai Giant’s Unit Soaring

What’s new: Shares of a Hong Kong-listed subsidiary of Charoen Pokphand Group Co. Ltd. (CP Group) surged this week after the Thai conglomerate’s senior chairman reportedly met with Chinese billionaire Jack Ma.

Chia Tai Enterprises International Ltd., majority-owned by CP Group, was trading at HK$6.98 ($0.90) at one point on Wednesday morning, more than eightfold Monday’s opening price of HK$0.84.