Ge Long Hui A P P·2025-06-20 12:01Group 1: Market Activity - Southbound funds net bought Hong Kong stocks worth 1.551 billion HKD on June 20, with notable net purchases in China Construction Bank (689 million HKD), SMIC (532 million HKD), and Southern Hang Seng Technology (429 million HKD) [1] - Tencent Holdings experienced a significant net sell-off of 1.234 billion HKD, marking a continuous net sell for 16 days totaling 18.58564 billion HKD [4][5] - Bubble Mart saw a net sell of 654 million HKD, continuing a trend of net selling for 3 days with a total of 2.10136 billion HKD [4] Group 2: Company Insights - China Construction Bank is expected to benefit from potential interest rate cuts in the second half of the year, enhancing financial stability and service capabilities [5] - SMIC's market share has increased to 6%, closing in on Samsung Electronics, which has seen its market share drop to 7.7% [5] - Tencent Holdings reported a growth in China's gaming market, with a market size of 28.051 billion CNY in May 2025, reflecting a year-on-year growth of 9.86% [6] - Bubble Mart's stock rating was adjusted by Morgan Stanley, while Morgan Chase raised its target price from 250 HKD to 330 HKD, indicating a positive outlook for the company [6] - Citigroup highlighted concerns over oil supply disruptions due to geopolitical tensions, predicting a potential price increase of 15% to 20% for oil if Iranian exports are interrupted [6]