港股早参丨南向资金连续四日扫货超百亿，上周度净买入港股近600亿

Market Overview - The Hong Kong stock market experienced a collective pullback last week, with the Hang Seng Index declining by 3.47%, the Hang Seng Tech Index down by 4.94%, and the China Enterprises Index falling by 3.78% [1] - Large tech stocks showed mixed performance, while sectors such as big finance, biomedicine, and innovative drugs saw declines; however, logistics stocks performed actively, and some automotive, gold, and semiconductor stocks increased [1] Southbound Capital - On August 1, southbound funds net bought HK stocks worth 12.207 billion HKD, marking the fourth consecutive day of over 10 billion HKD in net purchases. For the week, the total net purchase reached 59.02 billion HKD, and the cumulative net inflow for the year hit 879.049 billion HKD, a record high for annual net inflow [2] - The Hong Kong market is expected to reach new highs in the first half of 2025, with the average daily trading amount on the exchange reaching 240.2 billion HKD, a 118% increase from the same period last year. The total market capitalization rose to 42.7 trillion HKD, up 33% year-on-year [2] Automotive Sector - The Chinese new energy vehicle market continues to show high growth, with BYD maintaining its leading position with sales of 344,300 units. Notably, Leap Motor's sales surged by over 126% year-on-year to 50,100 units in July, while XPeng Motors achieved a record monthly delivery of 36,700 units, a 229% year-on-year increase. Xiaomi's first SUV, the Xiaomi YU7, helped the company surpass 30,000 units in sales for the first time [2] Short Selling Data - On August 1, a total of 621 Hong Kong stocks were short-sold, with a total short-selling amount of 28.889 billion HKD. The top three stocks by short-selling amount were Tencent Holdings at 1.948 billion HKD, Meituan at 1.889 billion HKD, and Xiaomi Group at 1 billion HKD [3] Institutional Insights - According to Jianyin International, the focus will shift to the mid-year reports of Hong Kong stocks, with expectations of moderate profit growth. The likelihood of systemic surprises is low, and more structural opportunities are anticipated, particularly in healthcare and technology sectors, where profit forecasts have been recently upgraded. The market is expected to experience short-term fluctuations, and investors are advised to take profits and consider buying on dips when the index returns to the 23,000 to 24,000 point range [4] Related ETFs - The Hang Seng Tech Index ETF (513180) supports T+0 trading and covers core AI assets in China [5] - The Hong Kong Stock Connect Automotive ETF (159323) also supports T+0 trading and focuses on leading new energy vehicle stocks in Hong Kong [6]