Abstract: Primary conversion. Baidu (9888 HK) announced on 16 Jul 2026 that its board approved pursuing dual-primary conversion. This note assesses the Connect path, conditions, and timeline. ADD timing. Baidu retains WVR through conversion, so the ADD path runs through the regular semi-annual cycle. We assess whether the September 2026 regular batch ADD is attainable. Trading perspective. Prior Connect ADD cases show positive southbound flows in all five peers and positive 10-day returns in all five.
BILIBILI, ZAI LAB, BIDU, YUM CHINA, ALIBABA, NTES
Research on index reviews and inclusion events across Asia Pacific, including MSCI, Hang Seng (HSI, HSCEI, HSCI), HS TECH, CSI 300, STAR50, NIFTY and Stock Connect changes. Coverage runs from rebalance forecasts through post-announcement positioning, pre-implementation updates and post-implementation reviews, using the price patterns of past events.
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