天天基金网·2025-06-11 11:15Group 1 - The core viewpoint of the articles highlights the continuous inflow of southbound funds into the Hong Kong market, with a net purchase of 76 billion HKD on June 10, leading to a cumulative net purchase of 674.2 billion HKD for the year, which is 83% of last year's total [1][2] - Alibaba is the most favored stock among southbound funds, with a net purchase of 85.8 billion HKD this year, bringing its market value close to 200 billion HKD. Tencent follows with a net purchase of 45.1 billion HKD and a market value exceeding 530 billion HKD, while Meituan ranks third with a net purchase of 32.2 billion HKD and a market value over 125 billion HKD [1] - The investment style of southbound funds is characterized by a "barbell" strategy, focusing on high-dividend assets on one end and technology growth and consumer discretionary sectors on the other [1] Group 2 - According to CICC, the current macro and market environment in China, while still needing repair, has structural highlights that favor the Hong Kong stock market. This includes stable returns from dividends and structural opportunities in new consumption, AI technology, and innovative pharmaceuticals [2] - CICC estimates that the net inflow of southbound funds for the year will be around 200 to 300 billion HKD, with a total annual inflow projected to be between 800 billion to 1 trillion HKD [2]