Mei Ri Jing Ji Xin Wen·2025-08-20 01:30Market Overview - On August 19, Hong Kong's three major indices opened high but closed lower, with the Hang Seng Index down 0.21% at 25,122.9 points, the Hang Seng Tech Index down 0.67% at 5,542.03 points, and the National Enterprises Index down 0.3% at 9,006.23 points [1] - The technology sector saw more declines than gains, with notable movements in stocks such as Tencent and NIO rising nearly 1%, while NetEase and Xiaomi fell over 1% [1] Southbound Capital - On August 19, southbound capital recorded a net inflow of 18.573 billion HKD, bringing the total net inflow for the year to 958.881 billion HKD, significantly exceeding last year's total [2] Company Performance - Xiaomi Group reported its Q2 earnings on August 19, with revenue reaching 116 billion CNY, a year-on-year increase of 30.5%, and adjusted net profit of 10.8 billion CNY, up 75.4% [3] - Pop Mart disclosed that its revenue for the first half of the year was 13.876 billion CNY, a 204.4% increase year-on-year, with adjusted net profit of 4.71 billion CNY, up 362.8% [3] Foreign Investment Trends - As of August 18, over 70 listed companies had qualified foreign institutional investors (QFII) among their top ten shareholders, with a total market value of approximately 6.8 billion CNY, indicating increased foreign institutional investment in the Chinese stock market [3] Short Selling Data - On August 19, a total of 637 Hong Kong stocks were short-sold, with total short selling amounting to 31.137 billion HKD. The top three stocks by short selling amount were Tencent (2.243 billion HKD), Xiaomi (1.941 billion HKD), and Alibaba (1.288 billion HKD) [4] Institutional Insights - Zhongtai International noted that despite marginal economic slowdowns in July, market risk appetite remained intact, with A-shares reaching new highs and significant net inflows into Hong Kong stocks [5] - The institution suggested focusing on sectors such as technology innovation (AI/Semiconductors), biomedicine, and high-dividend assets (utilities, energy, and leading consumer stocks) due to favorable long-term capital allocation and market recovery [5][6]