Alibaba-SW(09988) stocks have now been officially included in the Hong Kong stock connect.
According to the Zhixin Financial APP, CITIC Lyon released a research report stating that it maintains a "outperform" rating on Hong Kong Exchanges and Clearing Limited (00388) and a target price of 265 Hong Kong dollars for the next 12 months. The Stock Connect accounts for 16% of the exchange's overall average daily turnover, with a total turnover of 106 billion Hong Kong dollars from the beginning of the year to date, in line with the bank's full-year forecast.
Hong Kong Exchanges and Clearing Limited CEO Charles Li said at a forum that increasing market vitality is still a key strategy for the company. Alibaba-SW(09988) stocks have now been officially included in the Hong Kong stock connect, along with 32 other H-shares, for a total market value of 19 billion Hong Kong dollars. According to the bank's estimate, this could potentially bring in an additional 1 trillion yuan in capital.
