Bilibili Shares Jump After Stock Connect Inclusion

Dow Jones2023-03-13

By Yifan Wang

Bilibili Inc.'s shares jumped in Hong Kong morning trade, following gains in its U.S.-listed stock last Friday as investors welcomed the company's inclusion in a China-Hong Kong trading link.

The video-sharing company's shares advanced as much as 11% Monday in Hong Kong, and were last up 10%. Bilibili's New York-listed shares ended 6.0% higher on Friday.

The sharp gains come after Bilibili said its Hong Kong-traded shares have been included in the Stock Connect program, giving Chinese money direct access to the shares.

Onshore investors have played a key role in the Hong Kong equity market since the trading link was established in 2014. Inclusion into the scheme allows companies to tap into a larger pool of investors and fund flows from mainland China.

Citi analysts in a recent note called Bilibili's inclusion on the trading link one of the "key catalysts" for the stock in the near term.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

March 12, 2023 22:59 ET (02:59 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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