Mainland Investors Boost Alibaba
$BABA-W(09988)$ traded almost the same number of shares today (203m) as it did on its first day of inclusion in the Stock Connect program on Sept. 10, 2024.
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Alibaba's volume is off-the-charts today. Already 83m shares exchanging hands by the lunch break in HKEXGroup. This could match the 206m volume seen a few weeks ago when BABA joined the Stock Connect.
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Mainland investors have accounted for about 20% to 25% of the daily trading volume since. It will be interesting to know how big of a role they played in today's explosive rally.
It's clear that mainland investors have appetite for HK-listed companies especially when the markets are ripping higher. They add octane to the fuel.
Perhaps it's time for companies like $JD-SW(09618)$ $NIO-SW(09866)$ $TME-SW(01698)$ $WB-SW(09898)$ $BIDU-SW(09888)$ to seek a primary HK listing and get their shares in front of millions of eager mainland investors.
https://x.com/BrianTycangco/status/1839230150740992473
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