智通财经网·2025-06-25 09:53Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound trading, with a total net buy of 95.74 billion HKD on June 25, 2023, indicating strong investor interest in certain stocks while others faced net sell-offs [1]. Group 1: Net Buy and Sell Highlights - The stocks with the highest net buy were Guotai Junan International (01788) with 16.61 billion HKD, SMIC (00981) with 14.24 billion HKD, and China Construction Bank (00939) with 8.92 billion HKD [6][7]. - The stocks with the highest net sell were Tencent (00700) with 5.51 billion HKD, Alibaba-W (09988) with 4.6 billion HKD, and Xiaomi Group-W (01810) with 3.06 billion HKD [8]. Group 2: Company-Specific Developments - Guotai Junan International received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services, marking a significant step for traditional Chinese financial institutions in the virtual asset space [6]. - SMIC's net buy was influenced by potential tightening of semiconductor technology exemptions by the U.S., which could benefit local wafer foundries in China [6]. - China Construction Bank's attractiveness is supported by its high dividend yield of over 5.5%, as noted by Changjiang Securities [7]. - Bubble Mart (09992) saw a net buy of 6511 million HKD, attributed to improved supply chain capabilities and a healthier operational model [8].