Xin Lang Cai Jing·2025-11-21 11:23Core Insights - Southbound funds recorded a net inflow of approximately 38.60 billion HKD this week, an increase of about 13.90 billion HKD compared to last week, accounting for 41.88% of the total turnover of the Hang Seng Index [2] - Despite a continued adjustment in the Hong Kong stock market, southbound funds maintained a consistent inflow over five trading days, with a focus on increasing positions in technology stocks [2] - Alibaba saw a net buy of 13.32 billion HKD over the past week, marking a significant investment trend [3] Investment Highlights - Alibaba (9988.HK) experienced a net buy of 13.32 billion HKD, despite a weekly decline of 4.71%, with 57.10 million shares added in the last five days [4] - Xiaomi (1810.HK) had a net buy of 5.58 billion HKD, with a weekly decline of 10.10% and 59.82 million shares added [4] - Tencent (0700.HK) saw a net buy of 2.90 billion HKD, with a weekly decline of 4.84% and 1.80 million shares added [4] - Xpeng Motors (9868.HK) recorded a net buy of 2.29 billion HKD, with a significant weekly decline of 20.47% and 1.88 million shares added [4] - On the sell side, Pop Mart (9992.HK) faced a net sell of 460 million HKD, with a weekly decline of 7.90% and a reduction of 2.25 million shares [4] Daily Fund Flow - On the latest trading day, southbound funds had a net buy of approximately 1.05 billion HKD, with the Shanghai-Hong Kong Stock Connect seeing a net inflow of about 498 million HKD, while the Shenzhen-Hong Kong Stock Connect had a net outflow of approximately 393 million HKD [5] - Major net buys included Alibaba (11.58 billion HKD), Tencent (17.36 billion HKD), and Xiaomi (10.82 billion HKD) [5] - Significant net sells included Hua Hong Semiconductor (3.37 billion HKD) and Ganfeng Lithium (1.91 billion HKD) [5]