Zhi Tong Cai Jing·2025-09-30 10:06Core Insights - The Hong Kong stock market saw a net inflow of 154.8 billion HKD from Northbound trading on September 30, with the Shanghai-Hong Kong Stock Connect contributing 90.79 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 64.01 billion HKD [1] Group 1: Major Stocks - Alibaba-W (09988) received a net inflow of 51.79 billion HKD, with total trading volume reaching 88.49 billion HKD, reflecting a net increase of 15.09 billion HKD [2] - Semiconductor stocks saw significant interest, with SMIC (00981) attracting a net inflow of 24.83 billion HKD and Huahong Semiconductor (01347) receiving 9.34 billion HKD [6] - Tencent (00700) garnered a net inflow of 11.34 billion HKD, driven by the launch of its multimodal model, which is expected to enhance AI application development [5] Group 2: Market Trends - The overall valuation of the Hong Kong stock market remains low despite recent gains, suggesting long-term investment opportunities, particularly in the context of ongoing AI industry trends and potential interest rate cuts by the Federal Reserve [5] - The domestic AI chip industry is experiencing a breakthrough, with a full industry chain integration from advanced processes to model acceleration, indicating strong growth potential for domestic AI computing facilities [6] - Xiaomi Group-W (01810) achieved a net inflow of 10.54 billion HKD, with record-breaking sales for its 17 series smartphones, indicating a rapid increase in market share in the high-end smartphone segment [5]