Short Selling Ratios - Geely Automobile-R (80175), Kuaishou-WR (81024), and JD Health-R (86618) have the highest short selling ratios at 100.00% each [1][2] - China Ping An-R (82318) has a short selling ratio of 89.61%, while SenseTime-WR (80020) and China Resources Beer-R (80291) follow with 89.27% and 75.13% respectively [2] Short Selling Amounts - Alibaba-SW (09988) leads in short selling amount with 3.768 billion, followed by Meituan-W (03690) at 2.272 billion and Xiaomi Group-W (01810) at 1.584 billion [3] - Tencent Holdings (00700) and AIA Group (01299) also feature in the top five with short selling amounts of 1.242 billion and 0.582 billion respectively [3] Short Selling Deviation Values - China Ping An-R (82318) has the highest deviation value at 64.42%, indicating significant divergence from its historical short selling average [4] - Geely Automobile-R (80175) and Kuaishou-WR (81024) follow with deviation values of 56.33% and 40.21% respectively [4] - Baidu Group-SWR (89888) also shows a notable deviation value of 36.29% [4]

Key Points - On November 24, Alibaba-W (09988), Tencent Holdings (00700), and Kuaishou-W (01024) ranked the top three in net inflow of southbound funds, with net inflows of 4.06 billion, 1.168 billion, and 817 million respectively [1] - In terms of net outflow, SMIC (00981), CNOOC (00883), and Hua Hong Semiconductor (01347) led the market with net outflows of -1.033 billion, -380 million, and -336 million respectively [1] - In terms of net inflow ratio, Tuhu-W (09690), Yuexiu Transport Infrastructure (01052), and China Resources Beverage (02460) topped the market with ratios of 65.44%, 57.38%, and 53.66% respectively [1] - Conversely, China International Marine Containers (02039), Zhongzhou Securities (01375), and Zoomlion Heavy Industry (01157) had the highest net outflow ratios at -58.23%, -44.11%, and -43.10% respectively [1] Top 10 Net Inflow Stocks - Alibaba-W (09988) had a net inflow of 4.06 billion, representing a 13.22% increase, closing at 154.500 (+4.67%) [2] - Tencent Holdings (00700) saw a net inflow of 1.168 billion, with an 8.38% increase, closing at 624.500 (+2.38%) [2] - Kuaishou-W (01024) recorded a net inflow of 817 million, with a 17.96% increase, closing at 68.550 (+7.11%) [2] - Other notable stocks include Southern Hang Seng Technology (03033) with a net inflow of 634 million and a 6.56% increase, and Xiaomi Group-W (01810) with a net inflow of 484 million and a 5.33% increase [2] Top 10 Net Outflow Stocks - SMIC (00981) experienced the largest net outflow of -1.033 billion, with a -10.62% decrease, closing at 68.050 (-1.09%) [2] - CNOOC (00883) had a net outflow of -380 million, representing a -16.00% decrease, closing at 21.220 (-1.49%) [2] - Hua Hong Semiconductor (01347) saw a net outflow of -336 million, with a -6.02% decrease, closing at 69.650 (-4.91%) [2] - Other significant outflows included Innovent Biologics (01801) with -303 million and a -19.38% decrease, and Zijin Mining (02899) with -215 million and a -9.18% decrease [2] Top 10 Net Inflow Ratios - Tuhu-W (09690) led with a net inflow ratio of 65.44%, with a net inflow of 13.1377 million, closing at 17.130 (+1.90%) [3] - Yuexiu Transport Infrastructure (01052) followed with a net inflow ratio of 57.38%, with a net inflow of 2.1533 million, closing at 4.420 (+1.84%) [3] - China Resources Beverage (02460) had a net inflow ratio of 53.66%, with a net inflow of 1.74498 million, closing at 10.370 (-0.29%) [3]

Market Overview - The Hang Seng Index (HSI) closed at 25,936.51, up by 8.43 points or 0.03% on November 26 [1] - The index reached a high of 26,078.75 and a low of 25,801.83 during the trading session, with a trading volume of 61.01 million shares [1] Stock Performance - Major blue-chip stocks showed mixed performance, with HSBC Holdings closing at HKD 109.799, up by 2.04% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 614.101, down by 0.87% compared to the Hong Kong close [2] Individual Stock Movements - Tencent Holdings (00700) reported a price of HKD 619.500, down by HKD 5.500 or 0.88%, with an ADR price of USD 614.101, reflecting a decrease of 0.87% [3] - Alibaba Group (09988) saw a decline of HKD 3.000 or 1.90%, with a latest price of HKD 154.800 and an ADR price of USD 153.233, down by 1.01% [3] - HSBC Holdings (00005) increased by HKD 0.800 or 0.75%, with a latest price of HKD 107.600 and an ADR price of USD 109.799, up by 2.04% [3] - AIA Group (01299) rose by HKD 1.450 or 1.83%, with a latest price of HKD 80.700 and an ADR price of USD 81.128, up by 0.53% [3] - Meituan (03690) increased significantly by HKD 5.550 or 5.65%, while other stocks like Baidu (09888) and Kuaishou (01024) experienced declines of 2.05% and 2.83% respectively [3]

Core Points - Kuaishou-W announced a share buyback on November 26, purchasing 400,000 shares at a price range of HKD 68.650 to HKD 68.800, totaling HKD 27.49 million [2] - The stock closed at HKD 68.650 on the same day, reflecting a decline of 2.83%, with a total trading volume of HKD 2.16 billion [2] - Year-to-date, Kuaishou-W has conducted 29 buybacks, acquiring a total of 4.43 million shares for a cumulative amount of HKD 2.31 billion [2] Buyback Details - The latest buyback on November 26 involved 400,000 shares at a maximum price of HKD 68.800 and a minimum price of HKD 68.650, with a total expenditure of HKD 27.49 million [2] - Previous buybacks include: - November 21: 750,000 shares at a maximum price of HKD 64.250, totaling HKD 47.77 million [2] - November 20: 900,000 shares at a maximum price of HKD 64.950, totaling HKD 58.21 million [2] - October 14: 1.31 million shares at a maximum price of HKD 75.100, totaling HKD 98.41 million [2] - September 22: 1 million shares at a maximum price of HKD 74.300, totaling HKD 73.80 million [2]

| 代码 | 简称 | 类型 | 成交金额（万港元） | 成交净买入（万港元） | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 09988 | 阿里巴巴-W | 港股通(沪) | 816209.99 | 75126.03 | -1.90 | | 09988 | 阿里巴巴-W | 港股通(深) | 515351.00 | 77690.59 | -1.90 | | 03690 | 美团-W | 港股通(沪) | 363404.71 | -40280.53 | 5.65 | | 00700 | 腾讯控股 | 港股通(深) | 234132.00 | -116539.30 | -0.88 | | 01810 | 小米集团-W | 港股通(沪) | 225512.61 | 52494.07 | -0.59 | | 01810 | 小米集团-W | 港股通(深) | 222235.00 | -64895.07 | -0.59 | | 03690 | 美团-W | 港股通(深) | 218595.00 | 3617.35 | 5.65 | | 00981 | 中芯国际 ...

Group 1 - The Hang Seng Index has risen by 1.15%, with the Hang Seng Tech sector leading the gains, followed by healthcare, internet, and consumer sectors, while banks are relatively weak [1] - The consumer sector opened high and has maintained a strong position, currently up by 1.88%. Notable stocks include Xiaomi Group up by 5.33%, Baidu Group up by 3.94%, and Kuaishou up by 3.5%, with several others like Alibaba, SMIC, and BYD also showing gains around 2% [3] - The healthcare sector has also seen significant gains, currently up by 1.95%. Key performers include Kangfang Biotech up by 4.98%, CSPC Pharmaceutical up by 4.37%, and China Biologic Products up by 3.79% [3] Group 2 - The banking sector experienced a sharp decline at the open but has since rebounded slightly, currently up by 0.42%. Notable increases include Citic Bank up by 2.34%, with nearly ten other banks like Qingdao Bank and Agricultural Bank also rising over 1% [3] - Some banks, such as Zhengzhou Bank and Everbright Bank, are experiencing slight declines despite the overall sector rebound [3]

快手-W(01024)发布公告，于2025年11月26日，该公司斥资2748.89万港元回购40万股股份，每股回购价 格为68.65-68.8港元。 ...

智通财经APP讯，快手-W(01024)发布公告，于2025年11月26日，该公司斥资2748.89万港元回购40万股 股份，每股回购价格为68.65-68.8港元。 ...

Group 1 - Kuaishou-W (01024.HK) announced a share buyback of 400,000 shares at a cost of HKD 27.49 million on November 26 [1]

Core Insights - On November 26, 2025, Alibaba-W (09988), Meituan-W (03690), and Xiaomi Group-W (01810) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 81.62 billion, 36.34 billion, and 22.55 billion respectively [1][2] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), Tencent Holdings (00700), and Xiaomi Group-W (01810) also ranked as the top three, with trading amounts of 51.54 billion, 23.41 billion, and 22.22 billion respectively [1][2] Southbound Stock Connect - Top Active Companies - Alibaba-W (09988) had a trading amount of 81.62 billion with a net buying amount of +7.51 billion [2] - Meituan-W (03690) recorded a trading amount of 36.34 billion with a net selling amount of -4.03 billion [2] - Xiaomi Group-W (01810) achieved a trading amount of 22.55 billion with a net buying amount of +5.25 billion [2] - Other notable companies included SMIC (00981) with a trading amount of 19.98 billion and a net selling amount of -2.47 billion, and Tencent Holdings (00700) with a trading amount of 13.88 billion and a net selling amount of -14.37 million [2] Shenzhen-Hong Kong Stock Connect - Top Active Companies - Alibaba-W (09988) had a trading amount of 51.54 billion with a net buying amount of +7.77 billion [2] - Tencent Holdings (00700) recorded a trading amount of 23.41 billion with a net selling amount of -11.65 billion [2] - Xiaomi Group-W (01810) achieved a trading amount of 22.22 billion with a net selling amount of -6.49 billion [2] - Other significant companies included Meituan-W (03690) with a trading amount of 21.86 billion and a net buying amount of +36.17 million, and SMIC (00981) with a trading amount of 10.03 billion and a net selling amount of -4.21 million [2]