智通财经网·2025-05-12 09:58Core Viewpoint - The Hong Kong stock market experienced significant net selling from northbound capital, totaling HKD 185.28 billion, with notable sell-offs in major stocks like Tencent and Xiaomi [1][6]. Group 1: Northbound Capital Flow - Northbound capital recorded a net sell of HKD 185.28 billion, with HKD 80.09 billion from the Shanghai Stock Connect and HKD 105.19 billion from the Shenzhen Stock Connect [1]. - The most bought stocks included BYD Electronic (00285), CNOOC (00883), and Innovent Biologics (01801) [1]. - The most sold stocks were the Tracker Fund of Hong Kong (02800), Tencent (00700), and Xiaomi Group-W (01810) [1]. Group 2: Stock-Specific Transactions - Xiaomi Group-W (01810) saw a net sell of HKD 21.16 billion, attributed to consumer backlash over its automotive offerings [8]. - Tencent (00700) experienced a net sell of HKD 36.65 billion, influenced by external uncertainties affecting valuations [6][8]. - BYD Electronic (00285) had a net buy of HKD 1.21 billion, supported by positive market sentiment following trade talks [6]. Group 3: Market Sentiment and Predictions - The market sentiment was affected by the recent US-China trade talks, with expectations of valuation recovery in the consumer electronics sector if tariff policies stabilize [6]. - Analysts predict that the net inflow from southbound capital for the year could reach HKD 8,000-10,000 billion, despite recent slowdowns [7]. - The semiconductor sector, represented by SMIC (00981), faced a net sell of HKD 9.14 billion, with mixed performance in revenue and margins reported [7].