BABA(US:BABA) Xin Lang Cai Jing·2025-07-01 06:51Group 1 - The Hong Kong stock market is closed today to celebrate the 28th anniversary of its return, while A-share related ETFs are trading normally, with the Hang Seng Tech ETF (513260) experiencing a slight decline of 0.29% during the day [1] - The Hang Seng Tech ETF (513260) is noted for having the lowest management fee in its category at only 0.15% [1] - As of the last trading day, most constituent stocks of the Hang Seng Tech ETF (513260) have retreated, with Meituan down over 3% and Alibaba down over 2%, while Xiaomi and Kuaishou saw slight increases [3] Group 2 - Southbound funds have continued to net buy Hong Kong stocks, with a total net purchase exceeding HKD 731.1 billion this year, accounting for over 90% of the total net buy for 2024 [4] - As of June 20, the total market value of stocks held by the Hong Kong Stock Connect exceeded HKD 49.394 trillion, with the financial sector holding the highest proportion [4] - The top ten stocks held by southbound funds include Tencent Holdings, China Mobile, and Construction Bank, with Tencent's market value exceeding HKD 500 billion [6][7] Group 3 - Recent net purchases by southbound funds have seen significant inflows into the Hang Seng Tech ETF (513260) constituents, particularly in SMIC, Meituan, and Kuaishou [7] - The estimated net inflow into ETFs in the Hong Kong stock market is approximately HKD 57.557 billion, with significant inflows into the information technology and non-essential consumer sectors [8] - Long-term prospects for the Hong Kong stock market remain strong, with a focus on technology growth and high dividend strategies, despite short-term volatility [11]