Summary of Key Points Core Viewpoint - On June 12, the Hang Seng Index fell by 1.36%, with southbound capital totaling HKD 129.736 billion in trading volume, resulting in a net inflow of HKD 5.585 billion [1][2]. Trading Activity - Southbound trading included a total buy transaction of HKD 67.660 billion and a sell transaction of HKD 62.076 billion, leading to a net buy of HKD 5.585 billion [1]. - The cumulative trading volume for the Stock Connect (Shenzhen) was HKD 46.796 billion, with a net buy of HKD 1.733 billion, while the Stock Connect (Shanghai) had a trading volume of HKD 82.940 billion and a net buy of HKD 3.851 billion [1]. Active Stocks - The most actively traded stock by southbound capital was Pop Mart, with a total trading volume of HKD 63.240 billion, followed by Alibaba-W and Xiaomi Group-W with trading volumes of HKD 59.780 billion and HKD 58.500 billion, respectively [1][2]. - The net buying stocks included eight companies, with Xpeng Motors-W leading at a net buy of HKD 7.670 billion despite a closing price drop of 6.66% [1][2]. - Other notable net buys were for Innovent Biologics at HKD 4.370 billion and China Construction Bank at HKD 3.980 billion [1][2]. Net Selling Activity - Alibaba-W experienced the highest net sell amount at HKD 16.400 billion, with a closing price decline of 3.21%. Tencent Holdings and Kuaishou-W followed with net sells of HKD 8.320 billion and HKD 8.170 billion, respectively [1][2]. - Continuous net buying was observed for Innovent Biologics over four days, totaling HKD 22.980 billion, while Tencent Holdings, Alibaba-W, and Kuaishou-W faced continuous net selling [2].