智通财经网·2026-01-23 10:06Core Viewpoint - The Hong Kong stock market experienced significant net selling from northbound capital, totaling HKD 16.01 billion on January 23, with notable net selling in Alibaba, China Mobile, and Changfei Optical Fiber Cable, while Pop Mart, Xiaomi, and Tencent saw net buying [1][2]. Group 1: Northbound Capital Activity - Northbound capital recorded a net selling of HKD 16.01 billion, with HKD 5.6 billion from Shanghai Stock Connect and HKD 10.41 billion from Shenzhen Stock Connect [1]. - The most net bought stocks included Pop Mart (HKD 7.47 billion), Xiaomi (HKD 6.08 billion), and Tencent (HKD 2.4 billion) [4][5]. - The most net sold stocks were Alibaba (HKD 14.9 billion), China Mobile (HKD 6.22 billion), and Changfei Optical Fiber Cable (HKD 1.38 billion) [7][8]. Group 2: Individual Company Insights - Pop Mart (09992) reported a net buying of HKD 7.47 billion, driven by the successful launch of its Valentine's Day limited edition blind box and recent share buybacks totaling over HKD 300 million, indicating confidence in long-term growth [4]. - Xiaomi Group (01810) saw a net buying of HKD 6.08 billion, with plans to repurchase up to HKD 25 billion of its B shares, reflecting confidence in its business outlook [5]. - Tencent Holdings (00700) had a net buying of HKD 2.4 billion, supported by positive analyst reports highlighting resilience in its core business and AI developments [5]. - Alibaba (09988) faced a net selling of HKD 14.9 billion, as it prepares for the potential IPO of its AI chip subsidiary, T-Head, although the timeline remains uncertain [7]. - China Mobile (00941) experienced a net selling of HKD 6.22 billion, indicating market concerns [8].