The Shanghai and Shenzhen exchanges included e-commerce company Alibaba Group Holding (HKG:9988) in the Stock Connect scheme with the Hong Kong bourse, according to a Monday disclosure on the Shanghai bourse.
Alibaba is among a number of companies included in the scheme.
The Stock Connect scheme was expanded in April to boost Hong Kong's status as a global financial center, Reuters said in a Monday report.
Alibaba's shares jumped less than 5% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments