Zhi Tong Cai Jing·2025-10-22 13:29Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound trading, with notable buying activity in specific stocks such as China National Offshore Oil Corporation (CNOOC), Semiconductor Manufacturing International Corporation (SMIC), and Pop Mart International. Conversely, stocks like Hua Hong Semiconductor, Xiaomi, and Alibaba faced net selling pressure [2][7]. Group 1: Northbound Trading Activity - Northbound trading recorded a net inflow of 100.18 billion HKD, with 66.93 billion HKD from the Shanghai Stock Connect and 33.25 billion HKD from the Shenzhen Stock Connect [2]. - The most bought stocks included the Tracker Fund of Hong Kong (02800), CNOOC (00883), and SMIC (00981) [2]. - The most sold stocks were Hua Hong Semiconductor (01347), Xiaomi Group-W (01810), and Alibaba Group-W (09988) [2]. Group 2: Stock Performance and Analysis - SMIC saw a net inflow of 18.49 billion HKD in buying, with a selling amount of 15.57 billion HKD, resulting in a total transaction volume of 34.07 billion HKD [3]. - CNOOC received a net buy of 14.24 billion HKD, supported by reports indicating a focus on increasing reserves and production amid external uncertainties [7]. - Pop Mart reported a strong third-quarter performance with revenue growth of 245% to 250% year-on-year, leading to an upgrade in earnings forecasts by Bank of America [8]. Group 3: Sector Insights - The semiconductor sector showed divergence, with SMIC gaining net inflows of 6.42 billion HKD while Hua Hong Semiconductor faced net outflows of 2.97 billion HKD [7]. - Analysts remain optimistic about the semiconductor industry's growth driven by artificial intelligence and domestic production capabilities amid U.S. export controls [7]. - The collaboration between Innovent Biologics and Takeda Pharmaceuticals is expected to yield significant financial benefits, with potential payments reaching up to 114 billion USD [8].