Fosun founder Guo Guangchang appears in public

In both markets, though, stocks with ties with China’s Fosun Group all slumped, as investors had their first chance to react to news that Fosun’s billionaire chairman was assisting authorities with an investigation.

“We trust chairman Guo is a wise man and will actively cooperate and fulfill his duties to assist the investigation as soon as possible”, Fosun president Wang Qunbin told reporters. And although there is still no clarity regarding whether he will continue his dealings with the Chinese authorities, the company dared to restart trading in its shares this morning. The company didn’t clarify if Guo himself is under investigation, but said its directors feel the probe has not posed any material adverse impact on the group.

A 3-year-old anti-corruption crackdown led by President Xi Jinping that has snared dozens of executives at state companies.

The Caixin site quoted sources saying that Fosun had been unable to reach Mr Guo since around lunchtime local time last Thursday, although Fosun in Hong Kong declined to comment on the reports.

Media speculation about the disappearance of Guo came amid the Chinese government’s stringent anti-corruption campaign that has brought down several officials over the past three years, including Zhou Yongkang, China’s former security chief and a former member of the Communist Party’s ruling standing committee.

Shares in Fosun’s listed subsidiaries in Hong Kong and Shanghai resumed trading on Monday after being suspended on Friday.

Guo spoke at Fosun’s previously scheduled annual meeting yesterday, according to the China Business News and the Paper.

Fosun Group owns Club Mediterranee and a stake in Cirque du Soleil, as well as interests in insurance, real estate, pharmaceutical and commodities.

Fosun won a bidding war this year to take over Club Mediterranee, the French resort operator. Shanghai Fosun Pharmaceutical shares also dropped over 4 percent.

Mr Guo has a net worth of 7.8 billion dollars (£5.1 billion), according to the Hurun Report, which follows China’s wealthy. The company, Guotai Junan, hasn’t said anything since, and Yim’s whereabouts are still unknown.

On Monday, China’s biggest brokerage, state-owned Citic Securities Co., said it could not contact the two managers in charge of its China and global investment banking business.