中外机构一二级市场密集抢筹港股

Group 1 - The Hong Kong stock market has shown strong performance this year, with significant participation from both domestic and foreign institutional investors in IPOs and secondary market purchases [1][2] - Foreign institutional investors, including sovereign funds and hedge funds, have contributed over 40% of the IPO fundraising amount in Hong Kong, with two-thirds of this coming from foreign investors, indicating a notable increase in international capital allocation to Chinese assets [2] - Major foreign funds, such as the Norwegian sovereign wealth fund and BlackRock, have increased their holdings in Hong Kong stocks, reflecting a shift in global capital towards high-growth Chinese stocks amid concerns over high valuations in the US market [2] Group 2 - Domestic institutional investors have also been actively acquiring Hong Kong stocks, with net inflows from southbound funds reaching 95.89 billion HKD this year, surpassing the total for the previous year [3] - The structure of southbound funds has improved, with more buying coming from medium to long-term investors interested in high dividend and high repurchase blue-chip stocks [3] - The trend of insurance capital increasing investments in H-shares is evident, as major insurance companies have made significant purchases, benefiting from tax exemptions on dividends for long-term holdings [3][4] Group 3 - The trading volume of southbound investments through the Stock Connect accounted for 23% of the total trading volume in Hong Kong stocks in the first half of this year, up from only 9% in 2020, driven by higher dividend yields from dual-listed companies and the listing of Chinese internet stocks in Hong Kong [4]