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南向资金追踪｜10月净买入925亿港元 加仓金融及能源股减持医疗保健行业
Xin Lang Cai Jing·2025-10-31 11:48

Core Viewpoint - In October, southbound funds recorded a cumulative net inflow of 92.5 billion HKD, a decrease of approximately 50% compared to September, primarily due to the suspension of Hong Kong Stock Connect trading during the National Day holiday [2][4]. Fund Flow Summary - Overall, southbound funds remained predominantly inflow-oriented in October, but the intensity of inflows weakened as the Hang Seng Index experienced volatility [4]. - The cumulative transaction volume of southbound funds reached 2,310.835 billion HKD, accounting for only 42% of the Hang Seng Index's total transaction volume, marking a low point since the beginning of the year [7]. Industry Analysis - In October, there was increased attention on the financial and energy sectors, with net inflows of 20.811 billion HKD and 9.27 billion HKD, respectively. Conversely, interest in technology and healthcare sectors declined [6]. - The inflow to the information technology sector decreased by over 40% month-on-month, while the healthcare sector saw a net outflow exceeding 5 billion HKD, likely due to the high cumulative gains in the innovative drug sector this year [6]. Stock Performance - Notable net inflows were observed in: - Xiaomi Group-W (01810.HK): 6.728 billion HKD - Meituan-W (03690.HK): 5.409 billion HKD - China National Offshore Oil Corporation (00883.HK): 4.713 billion HKD - Pop Mart (09992.HK): 4.182 billion HKD [8][9] - Significant net outflows were recorded for: - SMIC (00981.HK): 6.480 billion HKD - Alibaba-W (09988.HK): 5.750 billion HKD - Tencent Holdings (00700.HK): 1.970 billion HKD [9]. Recent Trends - Xiaomi Group-W experienced a cumulative decline of 20% in October, with short-term fund inflows slowing down [10]. - Meituan-W saw a cumulative decline of 2.39%, with a similar trend of slowing short-term fund inflows [11]. - China National Offshore Oil Corporation recorded a cumulative increase of 3.83%, with accelerated short-term fund inflows [12]. - Alibaba-W faced a cumulative decline of 6.72%, with continuous outflows of short-term funds [13].