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<Research>Jefferies: BABA-W, Joining Southbound Stock Connect, Attains Series of Progress
Recommend 58 Positive 73 Negative 24 |
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According to a report released by Jefferies, the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) announced adjustments to the list of stocks on the Stock Connect Scheme. BABA-W (09988.HK) (BABA.US) has formally been added to the Southbound Stock Connect, effective from today (10th). The broker believes this could bring a positive impact as investors have been eagerly anticipating BABA-W's inclusion in the Southbound Stock Connect after it completed its dual primary listing conversion in Hong Kong and New York last month. In addition, the group has recently made a series of advancements, including completing a three-year rectification and integrating Taobao & Tmall with WeChat Pay. Jefferies maintained a Buy rating on the company with a TP of $112. AAStocks Financial News |
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