Companies bask in 'Alibaba effect'

Domestic investors are snapping up shares of businesses even remotely connected to the e-commerce giant, reports Bloomberg.

Chinese investors, left out of Alibaba Group Holding Ltd's US initial public offering, are piling into the next best thing.

The seven mainland-traded companies that either sold stakes to Alibaba or have partnerships with the e-commerce business have rallied 15 percent on average over the past month through Monday, beating the Shanghai Composite Index by 10 percentage points, data compiled by Bloomberg and GF Securities Co show.