Hong Kong Stock Connect can't buy all Hong Kong stocks, only some. The Hong Kong stock indexes of Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect include: the constituent stocks of Shen Heng Composite Large-Cap Index, Shen Heng Composite Medium-Cap Index and Shen Heng Composite Small-Cap Index, A+H shares listed on Shanghai Stock Exchange and Hong Kong Stock Exchange, and A+H shares listed on Shenzhen Stock Exchange and Hong Kong Stock Exchange.

The suffix "-W" after Alibaba has a similar meaning. Before Alibaba, there was Xiaomi Group -W( 18 10-HK). The small tail of "-W" is specially prepared by HKEx for enterprises with the same share but different rights. Alibaba -W stands for Alibaba listed in Hong Kong as an enterprise with the same share but different rights.