According to the information disclosed by the Hong Kong Stock Exchange, JPMorgan increased its shareholding on October 14th. $BABA-W (09988.HK)$ by approximately 56.36 million shares, with an average price of HK$105.0870, involving about HK$5.922 billion. The number of shares held after the increase is 1.551 billion shares, and the shareholding ratio increased from 7.80% to 8.09%.

It was included in the Stock Connect in September.

On October 14, Hang Seng Index Company announced that due to Alibaba-W being included in the Stock Connect and meeting the rapid inclusion requirements of relevant indices, Alibaba will be included in the Hang Seng Stock Connect Index and other indices after the market closes on Friday, October 25, 2024, and will take effect from Monday, October 28, 2024.

On October 14, Hang Seng Index Company announced that Alibaba-W, as it has been included in the Hong Kong Stock Connect and meets the requirements of the rapid inclusion rules of relevant indices, Alibaba will be included in the Hang Seng Stock Connect Index and other indices after the close on Friday, October 25, 2024, and will take effect from Monday, October 28, 2024.

On September 9th this year, the SSE and SZSE announced in the evening that due to adjustments in the constituents of the Hang Seng Composite LargeCap Index, MidCap Index, and SmallCap Index, the Stock Connect securities list was adjusted according to relevant regulations, effective from September 10, 2024.

Alibaba, Imotion Auto Tech, SF Local, Hang Lung Group, K. Wah International, COFCO Packaging, Tianli International Holdings, Stella Holdings, Zonqing Ltd, Dah Sing Banking, Sinopec SEG, Dekon Agr, Mei Zhong Jia He, Teabaw, JNBY, CSSC Shipping, and 17 other stocks were added.

Xiabuxiabu, Productive Tech, Powerlong, Shimao Group, Sino-Ocean Group, Chinasouthcity, Edianyun, Agile Group, and 25 other stocks were removed from the Stock Connect securities list.

This means that southbound funds will be able to purchase stocks like Alibaba through the Stock Connect.

A few days ago, on September 4th, the Hang Seng Index added the Hong Kong Stock Connect Index rapid inclusion rules, transforming from secondary listing to primary or dual primary listing and meeting the qualifications for southbound interconnection trading for securities. If the closing total market cap ranks in the top 10 among existing constituents, it will be included in the index in the next monthly regular adjustment.

Alibaba completed a dual primary listing on the New York Stock Exchange and the Hong Kong Stock Exchange on August 28 this year, becoming the first beneficiary of the new rules.

Previously, Alibaba Group announced that it has added Hong Kong as its primary listing venue and successfully completed its main board listing on the Hong Kong Stock Exchange on August 28 this year, making it a company with dual primary listings on both the Hong Kong Stock Exchange and the New York Stock Exchange.

Data shows that since Alibaba's secondary listing in Hong Kong in 2019, most of the publicly traded shares have been transferred to Hong Kong. In terms of market cap and trading volume, Alibaba has consistently ranked among the top three in Hong Kong stocks.

Ongoing repurchase in the new fiscal year.

On the evening of October 2nd, Alibaba announced on the Hong Kong Stock Exchange that during the quarter ended on September 30, 2024, the company repurchased a total of 0.414 billion shares of common stock (equivalent to 52 million American depositary shares) at a total price of $4.1 billion. These repurchases were conducted in the U.S. and Hong Kong markets as part of the company's share buyback plan.

The announcement indicates that as of September 30, 2024, the company has 18.62 billion outstanding common shares (equivalent to 2.327 billion American depositary shares). Compared to June 30, 2024, there was a net decrease of 0.405 billion common shares, a net decrease rate of 2.1% (after taking into account shares issued under Alibaba's stock-based incentive plan). The share buyback plan authorized by the board of directors still has a remaining repurchase amount of $22 billion, valid until March 2027.

Financial report data shows that Alibaba has already invested $5.8 billion in repurchasing 0.613 billion common shares in the first quarter of the 2025 fiscal year, exceeding the efforts of the previous several quarters.

According to previous statistics, in the past 2024 fiscal year, Alibaba has cumulatively invested $12.5 billion in repurchases, ranking first in the scale of repurchases among Chinese concept stocks. As of June 30, 2024, there is still $26.1 billion remaining under Alibaba's share repurchase plan, valid until March 2027.

Editor/Somer