Xin Lang Cai Jing·2026-01-28 10:20Core Viewpoint - Southbound capital saw a significant increase in trading volume today, reaching approximately HKD 137.85 billion, but still experienced a net outflow of about HKD 34.27 billion, marking a continuous outflow trend over the past four trading days totaling approximately HKD 64.88 billion [2][3]. Trading Activity - Southbound trading accounted for 38.13% of the total turnover of the Hang Seng Index today, with a notable net outflow from the Shanghai-Hong Kong Stock Connect of approximately HKD 47.72 billion and a net inflow from the Shenzhen-Hong Kong Stock Connect of about HKD 13.45 billion [2]. - Major stocks with significant net inflows included Tencent Holdings (HKD 1.21 billion), Pop Mart (HKD 734 million), Yangtze Optical Fibre (HKD 298 million), and CloudWalk Technology (HKD 74 million) [3]. - Conversely, stocks with substantial net outflows included Alibaba (HKD 945 million), Zijin Mining (HKD 854 million), China Mobile (HKD 748 million), and SMIC (HKD 379 million) [3]. Stock Performance - Tencent Holdings increased by 2.31%, with a cumulative reduction of approximately 80,000 shares over the past five days, but has seen a return of capital in the last three days [4]. - Pop Mart surged by 7.03%, with an increase of 19.44 million shares over the past five days, indicating a continued inflow trend [5]. - Yangtze Optical Fibre rose by 15.43%, despite a reduction of 6.78 million shares in the previous five days, suggesting a short-term outflow [5]. - CloudWalk Technology experienced a significant increase of 73.79%, with an addition of 440,000 shares over the past five days, indicating accelerated inflow [5]. - Alibaba saw a rise of 2.12%, with an increase of 27.08 million shares over the past five days, maintaining a short-term inflow trend [5]. - Zijin Mining increased by 3.13%, but has seen a reduction of 49.81 million shares over the past five days, indicating a short-term outflow [5]. - China Mobile rose by 3.06%, with a reduction of 21.9 million shares over the past five days, continuing the outflow trend [5]. - SMIC increased by 3.52%, with an addition of 44.02 million shares over the past five days, indicating a short-term inflow trend [5].