南向资金年内净流入超1万亿港元！
Zheng Quan Ri Bao Zhi Sheng·2025-09-03 00:22

Core Viewpoint - The net inflow of southbound funds has exceeded 1 trillion Hong Kong dollars this year, indicating strong investor interest in the Hong Kong stock market [1][2]. Group 1: Southbound Fund Inflows - As of September 2, 2023, the total net inflow of southbound funds for the year reached approximately 10,002.21 billion Hong Kong dollars [1][2]. - The daily net inflow on September 2 was 92.81 billion Hong Kong dollars, with a weekly total of 212.23 billion Hong Kong dollars [2]. - Over the past three months, the net inflow was 3,492.79 billion Hong Kong dollars, and for the past six months, it was 7,218.51 billion Hong Kong dollars [2]. Group 2: Historical Trends and Predictions - From 2020 to 2024, the net buying amounts of southbound funds were 6721.25 billion, 4543.96 billion, 3862.81 billion, 3188.42 billion, and 8078.69 billion Hong Kong dollars respectively [3]. - Goldman Sachs has raised its forecast for the total southbound fund inflow in 2025 from 110 billion US dollars to 160 billion US dollars, approximately 1.25 trillion Hong Kong dollars [3]. Group 3: Market Impact and Sector Performance - Southbound funds have shown strong allocation value and strategic effectiveness in the Hong Kong stock market, particularly in the financial and mature internet sectors, which offer high dividend yields [5]. - The total market capitalization of software services and media in Hong Kong accounts for 55% of the technology sector, with key stocks including Tencent and Alibaba [5]. - In the first half of this year, transactions through southbound funds accounted for 23% of the total trading volume in the Hong Kong stock market, up from 9% in 2020 [5]. Group 4: Future Outlook - The macro liquidity expectations are improving, with institutions optimistic about the long-term performance of the Hong Kong stock market [5]. - The potential for a decline in the US dollar and expectations of interest rate cuts by the Federal Reserve could lead to a favorable environment for the Hong Kong market [6]. - Analysts suggest focusing on internet giants benefiting from AI applications and sectors like hard technology and mid-to-high-end manufacturing for future investments [7].