Jack Ma Defends HOMS

Want: Jack Ma refutes allegations of crashing China's stock market
According to Dow Jones, HOMS brought in about 440 billion yuan (US$70.9 billion) of the 500 billion yuan (US$80.5 billion) grey market funds funneled into the stock market.

However, Hundsun has denied that HOMS is responsible for the stock market crash, noting in a filing with the Shanghai Stock Exchange on Monday that only 30.1 billion yuan (US$4.85 billion) was force-sold through HOMS between June 15 and July 10, representing only 0.1% of total transactions during that period.

"It's not objective or rational to say that HOMS was the major force of the stock market turmoil," Hundsun said in the statement.
The hunt for the great white short continues.

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