Alibaba Group Holding BABAF BABA saw its Hong Kong-listed shares rise by 4.28% on Monday. The surge followed the inclusion of its ordinary shares in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs.
What Happened: The company’s shares were trading at HK$81.65 after the announcement. The inclusion means that eligible investors in Mainland China can now directly trade Alibaba’s ordinary shares listed on the Hong Kong Stock Exchange.
The Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs facilitate mutual market access between Mainland China and Hong Kong. These programs allow Mainland Chinese investors to trade eligible Hong Kong shares and vice versa, subject to daily quotas.
Effective Sept. 10, the inclusion was confirmed by announcements from both the Shanghai Stock Exchange and the Shenzhen Stock Exchange. This development is expected to enhance liquidity and broaden the…
