Alibaba Group Holdings Ltd. (9988.HK) saw its shares surge 4.2% on Tuesday, following its inclusion in China’s Stock Connect Scheme. This notable boost in share value comes in the wake of the e-commerce giant’s recent upgrade of its Hong Kong listing to primary status last month.
The move to a dual primary listing has opened the door for Alibaba to be part of the Stock Connect Scheme, which enables investors from mainland China to purchase shares in the country’s largest e-commerce firm by market capitalization. The company officially announced its inclusion in the scheme late Monday evening, marking a significant development for both the company and its investors.
Related topics:
Salesforce Expands Hyperforce Cloud Platform to Israel
EU’s Vestager Secures Landmark Victories Against Apple and Google
Apple Unveils Sleeker, Smarter Apple Watch Series 10 with Enhanced Display