Alibaba Surges in Hong Kong Debut on Stock Connect Program

Alibaba`s stock listing on the Stock Connect program, granting mainland China investors access, led to a surge in its Hong Kong stock price. This inclusion is projected to draw significant investment from mainland investors and potentially reduce the valuation gap with competitors. Despite recent revenue challenges due to weak Chinese consumption, Alibaba`s inclusion in the program, facilitated by its dual-primary listing status, provides a boost. Meanwhile, other stocks added or removed from the program experienced notable fluctuations.