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Alibaba Group Holding Is Maintained at Equal-Weight by Morgan Stanley
Alibaba Group Holding Price Target Maintained With a $90.00/Share by Morgan Stanley
Express News | UBS maintains a "shareholding" rating for Alibaba-SW with a target price of HKD 106.
Express News | Alibaba will reduce its stake in Suteng Juchuang from 10.25% to 8.21%.
"Market Review": Hang Seng Index weakened, netease plunged 10% after earnings, Alibaba and Ping An performed well.
The Hong Kong stock market was relatively soft today (23rd), as investors awaited Fed Chairman Powell's speech at Jackson Hole. The Dow and Nasdaq fell 0.4% and 1.7% respectively overnight. At the time of writing, the yield on 2-year US bonds was 4.01 basis points, while the yield on 10-year US bonds fell to 3.854 basis points. The US dollar index stood at 101.37, and the Dow futures were up 115 points or 0.28%, while the Nasdaq futures were up 0.7%. The Shanghai Composite Index rose 5 points or 0.2% to close at 2,854, while the Shenzhen Component Index rose 0.2%. The total trading volume of the Shanghai and Shenzhen stock markets exceeded 510.2 billion yuan.
Hong Kong stocks Alibaba rose 1.22%, announced the completion of a dual primary listing in Hong Kong and New York on the 28th, and it is expected to be included in the Hong Kong Stock Connect in September.
Gelonghui August 23rd | Alibaba (9988.HK) closed up 1.22% at HK$82.65. Alibaba announced this morning that it has added Hong Kong as a primary listing venue and will be listed on the main board of the Hong Kong Stock Exchange on August 28th (next Wednesday), becoming a company with dual primary listings on the Hong Kong Stock Exchange and the NYSE. According to research reports from institutions, after adding Hong Kong as a primary listing venue, Alibaba will meet the criteria for inclusion in the Stock Connect program and is expected to be included in the Stock Connect in September. A recent report from Morgan Stanley pointed out that long-term funds see Alibaba's potential inclusion in the Stock Connect program as a significant opportunity, while hedge funds have discussed the related issues.