停不下来！万亿资金扫货！

Group 1 - Southbound funds continue to buy Hong Kong stocks, with a net purchase amount reaching 10,002.21 million HKD as of September 2, 2025, marking a historical record [2] - Since the launch of the southbound trading scheme, net purchases of Hong Kong stocks have totaled 4.18 trillion HKD, while northbound funds have net bought 1.76 trillion CNY in A-shares [4] - The Hang Seng Innovation Drug ETF (159316) has seen significant inflows, with a net inflow of 1.548 billion CNY over the past 60 days, and its latest fund size reaching 1.965 billion CNY [7] Group 2 - The upcoming World Lung Cancer Congress from September 6 to September 9 in Barcelona will showcase a series of innovative drug results from Chinese pharmaceutical companies [6] - In 2025, Chinese innovative drugs have achieved 83 foreign licensing agreements, totaling 84.531 billion USD, a substantial increase of 73.2% compared to the total of 48.813 billion USD in 2024 [6] - The proportion of global licensing transaction amounts for Chinese innovative drugs has risen from less than 1% in 2019 to 51.73% this year [6] Group 3 - The A-share market has seen a surge in new accounts, with 2.65 million new accounts opened in August 2025, a 165% increase compared to the same period last year [8] - The total number of new accounts opened in the A-share market in the first eight months of this year has reached 17.2117 million [8] - The current margin financing balance in A-shares has reached a historical high of 2.296991 trillion CNY, surpassing the previous peak of 2.273035 trillion CNY set on June 18, 2015 [11] Group 4 - The market sentiment is being closely monitored, with Morgan Stanley noting that the current "water buffalo" trend in A-shares and Hong Kong stocks is forming, but the migration of household deposits to the stock market is still in its early stages [11][12] - There is a growing interest from private equity funds, with 1,152 private equity institutions participating in A-share company research in August, marking a 243.34% increase in research frequency [11] - Despite the strong market performance, there are indications of potential short-term overheating risks, and the overall market sentiment is still considered manageable [12][13]