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Market
What will be Alibaba's ranking among the most valuable companies in Hong Kong by December 31, 2024?
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Market capitalization data from financial news sources
Story
Alibaba to Join China's Stock Connect Program, Potential $20 Billion Boost
Sep 9, 2024, 12:00 PM
Alibaba Group Holding will be included in China's Stock Connect program, effective Tuesday. This inclusion will allow 200 million mainland Chinese investors to access Alibaba's Hong Kong-listed shares. The Shanghai and Shenzhen stock exchanges will both include Alibaba in their respective Stock Connect schemes, including the Shenzhen-HK Stock Connect. Analysts forecast that this move could boost the market by up to $20 billion, with some estimates suggesting a potential $12 billion increase. The inclusion is expected to quicken capital outflows as mainland China investors have been buying Hong Kong equities at a record pace.
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