Alibaba's Ma says concerns about China consumption overdone

Keep calm and carry on: Ma moved to reassure skittish investors by stating that fears about slowing consumption in China were overblown.

Alibaba Group Holding Ltd chairman Jack Ma, looking to calm investors after a slide in the e-commerce company's shares, said concerns about slowing consumption in China were overdone. 

Alibaba has lost more than a third of its value so far this year as fears of slowing growth in China, the company's biggest market, unnerved investors.