HONG KONG, July 26 (Reuters) - The following are quotes from analysts and lawyers after Alibaba said it would apply for a primary listing in Hong Kong and keep its U.S. listing, the first big firm to take advantage of a rule change in the Asian financial hub.

IVY WONG, CAPITAL MARKETS PRACTICE ASIA PACIFIC CHAIR, BAKER McKENZIE, HONG KONG:

"Given the geopolitical tensions, new listing regimes for technology companies and cross-border capital market opportunities including various stock connects in recent years, dual listings and homecoming listings have been on the agenda for many U.S. listed companies with substantial operations in China.

"It enables them to manage any potential regulatory risks and also gain broader investors access."

NAN LI, PROFESSOR OF FINANCE, SHANGHAI JIAOTONG UNIVERSITY, SHANGHAI:

"Given the increasing uncertainty due to potential geopolitical conflicts, the COVID-19 pandemic and changes in financial regulations, it is harder for the U.S. investors to evaluate Alibaba, hence it makes sense for Alibaba to get closer to investors in China, who have information advantage and less ambiguity about the fundamental value of Alibaba."

KENNY NG, ANALYST, EVERBRIGHT SUN HUNG HAI, HONG KONG:

"If Alibaba is accepted by HKEX for a dual primary listing in Hong Kong, it will reflect to some extent that the mainland's supervision of Alibaba may be eased, which will boost investor confidence in Alibaba.

"Chinese companies currently listed in the United States are facing regulatory pressure in the United States, and Alibaba's dual primary listing will help it ease the potential pressure of delisting in the United States in the future."

JOHN CHOI, EXECUTIVE DIRECTOR, DAIWA CAPITAL MARKETS, HONG KONG:

"I wouldn't quickly jump to the conclusion that this could be a precursor for some ADRs but I do believe it will be a natural move for many of the eligible secondary listed stocks in Hong Kong to move on and apply for the primary listing. This will eventually broaden the investor base and also increase the trading volume for the stock."

CHELSEY TAM, SENIOR ANALYST, MORNINGSTAR, HONG KONG:

"I think more ADRs may follow suit as it allows them to tap the mainland (China) investor base and reduce risks in delisting in the U.S."

BRIAN FREITAS, FOUNDER, PERISCOPE ANALYTICS, WHO PUBLISHES ON SMARTKARMA, AUCKLAND:

"Inclusion in Stock Connect will give mainland investors access to Alibaba. Given the name recognition and the correction in the stock price over the last year, there is bound to be a lot of interest in the stock." (Reporting by Scott Murdoch in Hong Kong and Josh Horwitz in Shanghai; Editing by Sumeet Chatterjee and Kenneth Maxwell)