Zhi Tong Cai Jing·2025-08-06 10:39Core Viewpoint - The Hong Kong stock market saw significant net buying from Northbound capital, totaling HKD 94.85 billion on August 6, with Tencent, Alibaba, and SMIC being the most favored stocks, while Xiaomi faced the highest net selling pressure [1][2]. Group 1: Northbound Capital Activity - Northbound capital recorded a net buying of HKD 94.85 billion, with HKD 44.69 billion from the Shanghai Stock Connect and HKD 50.16 billion from the Shenzhen Stock Connect [1]. - The top net buying stocks included Tencent (00700), Alibaba-W (09988), and SMIC (00981) [1]. - Xiaomi Group-W (01810) experienced the highest net selling, amounting to HKD 2.29 billion [6]. Group 2: Individual Stock Performance - Tencent Holdings (00700) had a net inflow of HKD 7.18 billion, driven by positive market sentiment regarding its upcoming mobile game "无畏契约," which has over 50 million pre-registrations [4][5]. - Alibaba-W (09988) saw a net inflow of HKD 6.78 billion, following the launch of a new membership system that integrates various services across its platforms [5]. - SMIC (00981) recorded a net inflow of HKD 3.64 billion, with expectations of a revenue decline in Q2 but positioned as a core beneficiary of high-end replacements [5][6]. - Crystal Technology (02228) gained a net inflow of HKD 5.32 billion due to a significant partnership with DoveTree for drug development [6]. - Ideal Auto-W (02015) had a net inflow of HKD 1.58 billion after announcing adjustments to its vehicle configurations based on user feedback [6].