策略周报：2月第4周全球外资周观察：长线外资离场是近期恒科偏弱主因-20260228

Group 1: A-Share Market - Recent week saw a slight net inflow of northbound funds estimated at 2.1 billion yuan, down from 3 billion yuan the previous week [10] - Flexible foreign capital estimated net inflow of 10 billion yuan in the recent week, compared to 8.8 billion yuan the week before [10] - Top active stocks in the recent week included Ningde Times with a total transaction amount of 17.9 billion yuan, accounting for 23% of the stock's weekly trading volume [10] Group 2: Hong Kong Market - Long-term foreign capital outflow is a primary reason for the recent weakness in the Hang Seng Index, with stable foreign capital outflow of 25.3 billion HKD and flexible foreign capital outflow of 14.3 billion HKD in the recent week [12] - Total capital inflow into the Hong Kong market was 1.9 billion HKD, with local funds contributing 10.5 billion HKD [12] - Significant foreign inflows were observed in the automotive and semiconductor sectors, with notable inflows into ETFs, software services, and discretionary retail [12] Group 3: Asia-Pacific Market - In the Asia-Pacific region, there was a net inflow of foreign capital into the Japanese stock market amounting to 523.4 billion JPY in the latest week, down from 1,191.8 billion JPY the previous week [15] - In January, foreign institutional investors withdrew 3.98 billion USD from the Indian stock market, an increase from 2.52 billion USD in the previous month [17] Group 4: US and European Markets - In January, global mutual funds saw a net inflow of 29.8 billion USD into the US equity market, slightly down from 32.2 billion USD the previous month [19] - European equity markets also experienced net inflows, with the UK, Germany, and France receiving 3.67 billion USD, 3.59 billion USD, and 4.27 billion USD respectively [19]