智通财经网·2025-11-28 10:07Core Viewpoint - The Hong Kong stock market saw significant net inflows from northbound trading, totaling HKD 27.27 billion on November 28, with notable net purchases in stocks like Alibaba, Pop Mart, and Xiaomi [1][2]. Group 1: Northbound Trading Activity - Northbound trading through Stock Connect recorded a net purchase of HKD 27.27 billion, with HKD 9.33 billion from the Shanghai Stock Connect and HKD 17.94 billion from the Shenzhen Stock Connect [1]. - The most purchased stocks included Alibaba-W (09988) with a net inflow of HKD 10.94 billion, Pop Mart (09992) with HKD 5.49 billion, and Xiaomi Group-W (01810) with HKD 4.7 billion [4][5]. Group 2: Individual Stock Performance - Alibaba-W (09988) had a total trading volume of HKD 44.08 billion, with a net inflow of HKD 8 billion, driven by the launch of its new AI product, Quark AI Glasses S1 [2][4]. - Pop Mart (09992) benefited from government initiatives to promote consumer goods, resulting in a net inflow of HKD 2.08 billion [5]. - Xiaomi Group-W (01810) saw a net inflow of HKD 3.66 billion, supported by its recent share buyback program totaling over HKD 12 billion this month [5]. - Other notable stocks included Meituan-W (03690) and Tencent Holdings (00700), which received net inflows of HKD 4.7 billion and HKD 2.62 billion, respectively [6]. Group 3: Net Sell-offs - The stocks with the highest net sell-offs included Semiconductor Manufacturing International Corporation (00981) and Zijin Mining (02899), with net outflows of HKD 3 billion and HKD 2.81 billion, respectively [6]. - The semiconductor sector continues to face selling pressure, as evidenced by the net sell-off of Huahong Semiconductor (01347) amounting to HKD 1.23 billion [6].