Zhi Tong Cai Jing·2025-08-27 00:29Core Insights - The Hong Kong stock market experienced significant net selling from northbound capital, totaling HKD 13.76 billion, with a net sell of HKD 24.36 billion from the Shanghai Stock Connect and a net buy of HKD 10.6 billion from the Shenzhen Stock Connect [2] Group 1: Stock Performance - ZTE Corporation (中兴通讯) saw a net buy of HKD 4.07 billion, while Semiconductor Manufacturing International Corporation (中芯国际) and Hua Hong Semiconductor (华虹半导体) faced net sells of HKD 8.11 billion and HKD 1.29 billion, respectively [7] - Alibaba (阿里巴巴-W) and Kuaishou (快手-W) were the most bought stocks, while Xiaomi Group (小米集团-W) and the Tracker Fund of Hong Kong (盈富基金) were the most sold [2][8] Group 2: Trading Volume and Activity - The trading volume for ZTE Corporation reached 11.50 billion, with a buy amount of HKD 7.06 billion and a sell amount of HKD 4.44 billion [5] - The total trading volume for Semiconductor Manufacturing International Corporation was HKD 70.23 billion, with a buy amount of HKD 30.73 billion and a sell amount of HKD 39.50 billion [3] Group 3: Market Trends and Insights - The report from Dongfang Securities suggests that the market for domestic AI chips is expected to grow, driven by advancements in design technology and manufacturing processes [7] - Citigroup indicated that major e-commerce platforms will likely maintain a degree of subsidies to secure market share amid changing consumer behaviors in China [6]