Alibaba Group Holding
The inclusion will open Alibaba's Hong Kong-listed shares to onshore traders, which has the potential to enhance investor access and drive capital inflows significantly.
The company's shares will be part of the southbound channel of the Stock Connect initiative starting Tuesday, SCMP cites Shanghai and Shenzhen stock exchanges.
The addition of Alibaba to the program is expected to attract up to $12 billion in onshore funds within six months, SCMP cites from Morgan Stanley forecast.
Prior reports claimed that the addition to Stock Connect by September 9 could unlock up to $3.2 billion in cash across global markets.
Alibaba's listing in the Stock Connect will align it with other top Chinese tech companies like Tencent Holdings
Alibaba Group lost over 9.4% in the last 12 months. Investors can gain exposure to the stock through SPDR NYSE Technology ETF
Price Action: BABA stock is down 0.29% at $80.95 at the last check on Monday.