Alibaba 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.

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 $JD-SW (09618.HK)$ $NIO-SW (09866.HK)$ $TME-SW (01698.HK)$ $WB-SW (09898.HK)$ $BIDU-SW (09888.HK)$ to seek a primary HK listing and get their shares in front of millions of eager mainland investors.