2月第2周全球外资周观察：策略周报：节前南向资金加速流入港股-20260214

Group 1 - The core conclusion indicates that northbound funds may have experienced a slight net inflow recently, with flexible foreign capital likely seeing a significant net inflow [1] - In the Hong Kong stock market, stable foreign capital saw an outflow of 10.4 billion HKD, while flexible foreign capital had an outflow of 25.1 billion HKD, with a net inflow of 49.8 billion HKD through the Stock Connect [1][2] - In the Asia-Pacific market, foreign capital flowed into Japan while there was an outflow from India in January [2][3] Group 2 - For A-shares, the estimated net inflow of northbound funds was 3 billion CNY during the week of February 9-13, 2026, compared to an estimated net outflow of 8.2 billion CNY the previous week [11] - The top active stocks in the northbound trading included Ningde Times with a total transaction amount of 20.4 billion CNY, accounting for 18% of the stock's weekly trading volume [11] - In the Hong Kong market, a total of 26.7 billion HKD flowed into the market during the week of February 4-10, 2026, with significant inflows into sectors such as electrical equipment, food and beverage, and textiles [13] Group 3 - In the US market, global mutual funds saw a net inflow of 32.2 billion USD into the US equity market in December, compared to a net inflow of 9.2 billion USD the previous month [20] - In Europe, global mutual funds had net inflows into the equity markets of the UK, Germany, and France amounting to 1.74 billion USD, 0.97 billion USD, and 2.16 billion USD respectively in December [20]