国泰海通｜海外策略：长线外资连续5周流入港股有色金属——12月第1周全球外资周观察

Group 1 - The core viewpoint of the article highlights the recent trends in capital flows across various markets, indicating a mixed sentiment among foreign investors [1][2][3] Group 2 - Northbound capital saw a slight net inflow of 1.1 billion yuan during the week of December 1 to December 5, 2025, compared to a net inflow of 3.7 billion yuan the previous week [1] - Flexible foreign capital estimated a net inflow of 3.3 billion yuan, down from 6.6 billion yuan the prior week [1] - The top active stocks in the northbound trading included Zhongji Xuchuang with a total transaction amount of 18.6 billion yuan, accounting for 11% of the stock's weekly trading volume [1] Group 3 - In the Hong Kong market, a total of 3.1 billion HKD flowed out, with stable foreign capital withdrawing 17.8 billion HKD and flexible foreign capital inflowing 5.7 billion HKD [2] - The sectors attracting foreign investment included non-ferrous metals, telecommunications services, and semiconductors, while consumer discretionary and durable goods saw significant inflows through the Stock Connect [2] Group 4 - In the Asia-Pacific market, Japan experienced a net outflow of 138.8 billion yen from foreign investors during the week ending November 24, 2025, with a cumulative net inflow of 9.7 trillion yen since the beginning of 2023 [2] - India saw a foreign capital outflow of 430 million USD in November, contrasting with an inflow of 1.66 billion USD the previous month [2] Group 5 - In the US and European markets, global mutual funds recorded a net inflow of 3.8 billion USD into the US equity market in October, down from 25.5 billion USD the previous month [3] - European markets saw net outflows, with the UK, Germany, and France experiencing net flows of -3.2 billion USD, 0.14 billion USD, and 1.16 billion USD respectively [3]