Group 1 - The core viewpoint of the reports indicates that southbound capital has continued to net buy significantly this year, with a total net purchase exceeding 691 billion HKD as of June 20, which is 85% of the total net buy for the entire year of 2024 [1] - Recent fund flows show that in the past week, southbound capital has flowed into the financial and healthcare sectors while flowing out of the information technology sector [1] - The report from Tianfeng Securities highlights that since early April, the Hang Seng Index has seen considerable gains, but sector enthusiasm has varied significantly, with the banking sector's crowding level gradually increasing since March, yet remaining below last year's average [1] Group 2 - The Tianfeng Securities report also notes that the active inflow of southbound capital has led to a significant increase in the scale of Hong Kong IPOs and refinancing, which has boosted demand for the Hong Kong dollar and strengthened its exchange rate [2] - The Hong Kong Monetary Authority's release of bank reserves in early May contributed to a decline in Hibor, while the negative spread between Hong Kong and US interest rates has attracted foreign capital inflows, resulting in a noticeable increase in foreign exchange reserves in May [2]
南向资金持续流入,机构关注港股板块分化
Huan Qiu Wang·2025-06-24 02:52