Xin Lang Cai Jing·2026-02-03 10:32Core Viewpoint - Southbound funds in Hong Kong experienced a decrease in trading volume, with a total of approximately HKD 126.4 billion, down by HKD 11.9 billion from the previous day, representing 37.72% of the total turnover of the Hang Seng Index, marking a short-term low [2]. Group 1: Southbound Fund Flow - Southbound funds recorded a net inflow of approximately HKD 0.952 billion today, with the Shanghai-Hong Kong Stock Connect seeing a net inflow of about HKD 1.733 billion, while the Shenzhen-Hong Kong Stock Connect had a net outflow of HKD 0.781 billion [2]. - The largest ETF, the Tracker Fund of Hong Kong (盈富基金), faced a net sell-off of HKD 3.762 billion, indicating continued outflows from certain funds [2]. Group 2: Individual Stock Performance - Tencent Holdings (0700.HK) saw a significant net buy of HKD 1.955 billion, despite a price drop of 2.92% [2][4]. - China Mobile (00941.HK) experienced a net buy of HKD 0.408 billion, with a slight price increase of 0.38% [2][4]. - Meituan-W (03690.HK) had a net buy of HKD 0.241 billion, with a price decline of 1.74% [2][4]. - Notable net outflows included Semiconductor Manufacturing International Corporation (00981.HK) at HKD 1.577 billion, Alibaba-W (09988.HK) at HKD 1.199 billion, and Kuaishou-W (01024.HK) at HKD 0.368 billion [2][4]. Group 3: Recent Trading Trends - Over the past five trading days, Tencent Holdings saw an increase of 663,000 shares, indicating continued short-term inflow [3]. - In contrast, China Mobile and Meituan-W experienced reductions in holdings of 4.164 million shares and 655,000 shares respectively, suggesting a trend of outflow [3]. - Kuaishou-W had an increase of 424,000 shares, indicating a short-term inflow despite a price drop of 4.61% [3].