Group 1 - The Hang Seng Index fell by 1.52% on October 13, with a total southbound trading volume of HKD 227.017 billion, including HKD 123.411 billion in buying and HKD 103.606 billion in selling, resulting in a net buying amount of HKD 19.804 billion [1] - The southbound trading through Stock Connect (Shenzhen) had a total trading volume of HKD 78.738 billion, with net buying of HKD 12.206 billion, while the trading through Stock Connect (Shanghai) had a total volume of HKD 148.279 billion and net buying of HKD 7.598 billion [1] - Alibaba-W had the highest trading volume among southbound stocks, totaling HKD 32.298 billion, followed by SMIC and Xiaomi Group-W with HKD 17.721 billion and HKD 15.323 billion respectively [1] Group 2 - Among the active stocks, the top net buying stock was the Tracker Fund of Hong Kong with a net buying amount of HKD 7.282 billion, despite a closing price drop of 1.56% [2] - Xiaomi Group-W and ZTE Corporation had the longest consecutive net buying days, with 6 and 3 days respectively, and the highest net buying amounts of HKD 4.709 billion and HKD 1.673 billion [2] - The stocks with the highest net selling amounts included Tencent Holdings with HKD 2.445 billion, Alibaba-W with HKD 1.624 billion, and SMIC with HKD 0.524 billion [2]

Core Viewpoint - The southbound funds' ETF trading volume reached 12.182 billion HKD on October 13, marking an increase of 11.272 billion HKD from the previous day, accounting for 5.37% of the total southbound funds' trading volume today [1] Summary by Category Southbound Funds Trading - The total trading volume for southbound funds' ETFs was 12.182 billion HKD, with a significant increase of 11.272 billion HKD compared to the previous day [1] - The trading volume for Hong Kong Stock Connect (Shanghai) ETFs was 9.295 billion HKD [1] - The trading volume for Hong Kong Stock Connect (Shenzhen) ETFs was 2.887 billion HKD [1]

Core Insights - On October 13, the southbound capital recorded a total trading volume of 227.018 billion HKD, with a net buy of 19.804 billion HKD [1] Trading Overview - The Hang Seng Index fell by 1.52% on October 13 [1] - Total southbound capital buy transactions amounted to 123.411 billion HKD, while sell transactions were 103.607 billion HKD, resulting in a total trading volume of 227.018 billion HKD, marking a new high for daily trading volume in nearly three months [1] - Breakdown of trading through Stock Connect: - Shanghai Stock Connect: - Buy transactions: 77.939 billion HKD - Sell transactions: 70.341 billion HKD - Net buy: 7.598 billion HKD [1] - Shenzhen Stock Connect: - Buy transactions: 45.472 billion HKD - Sell transactions: 33.266 billion HKD - Net buy: 12.206 billion HKD [1]

Group 1 - The Hang Seng Index closed down 400.84 points, a decrease of 1.52%, ending at 25889.48 points [1][2] - The State-Owned Enterprises Index fell by 135.78 points, down 1.45%, closing at 9222.54 points [1][2] - The Red Chip Index decreased by 9.93 points, a decline of 0.25%, finishing at 4026.25 points [1][2] Group 2 - Southbound capital recorded a net inflow of 19.804 billion Hong Kong dollars on the same day [1]

每经AI快讯，10月13日，南向资金净买入额达180亿港元。 ...

Group 1: Zhidatech's IPO - Zhidatech officially listed on the Hong Kong Stock Exchange on October 10, becoming the "first stock of global smart charging" in the market [1] - On its first trading day, Zhidatech's stock price opened high and closed at 195.50 HKD per share, reflecting a 192.14% increase [1] - Since its establishment in 2010, Zhidatech has focused on smart home electric vehicle charging piles, achieving a cumulative shipment of over 1.3 million units and holding a global market share of approximately 9.0% [1] Group 2: Jinye International Group's IPO - Jinye International Group, a Hong Kong electromechanical engineering contractor, also listed on the Hong Kong Stock Exchange on October 10 [2] - The stock price surged 330% on its first day, closing at 2.15 HKD per share [2] - For the fiscal years 2023/2024 and 2024/2025, Jinye International Group's projected revenues are 123 million HKD and 155 million HKD, respectively [2] Group 3: Hong Kong Stock Exchange Market Overview - As of September 30, 2025, the total market capitalization of the Hong Kong Stock Exchange reached 49.9 trillion HKD, a 35% year-on-year increase [3] - The average daily trading amount in September 2025 was 316.7 billion HKD, up 87% year-on-year [3] - The average daily trading amount for exchange-traded funds (ETFs) in the first nine months of 2025 was 34.2 billion HKD, reflecting a significant 163% year-on-year increase [3] Group 4: Ping An Life's Investment in Agricultural Bank - Ping An Life recently increased its stake in Agricultural Bank of China H-shares by acquiring approximately 39.63 million shares at a price of 5.2334 HKD per share, totaling about 207 million HKD [4] - After the purchase, Ping An Life's total holdings in Agricultural Bank reached approximately 5.236 billion shares, representing a 17.03% ownership stake [4] Group 5: Hong Kong Stock Market Performance - On October 10, the Hang Seng Index closed at 26,290.32, down 1.73% [5] - The Hang Seng Tech Index closed at 6,259.75, reflecting a decline of 3.27% [5] - The overall market showed a downward trend, with various indices experiencing losses [5]

Core Viewpoint - Southbound capital inflow into Hong Kong stocks has accelerated, with a cumulative net inflow of HKD 395.2 billion in Q3, an increase compared to Q2 [1][2] Flow Perspective - In Q3, southbound funds continued to flow into Hong Kong stocks, with a cumulative net inflow of HKD 395.2 billion, which is an increase from Q2 [2] - The outflow of foreign capital has slowed down, with a cumulative net outflow of HKD 66.4 billion in Q3, marking a decrease in outflow for three consecutive quarters [2] - The proportion of southbound holdings in Hong Kong stocks has reached a new high, with the Hong Kong Stock Connect holding amount rising from 20.7% at the end of Q2 to 21.8% at the end of Q3 [2] Industry Perspective - In Q3, the main inflows from southbound funds were into consumer discretionary, non-bank financials, and pharmaceuticals, while software and hardware saw net outflows in Q2 [3] - Foreign capital dominates most sub-sectors in Hong Kong stocks, particularly in the internet, finance, and most consumer sectors [3] - Southbound funds have gained significant pricing power in sectors such as semiconductors, general consumption, and general dividends over the past two years [3]

Core Viewpoint - On October 10, southbound funds recorded a total trading volume of 167.84 billion HKD, with a net selling of 0.399 billion HKD, indicating a bearish sentiment in the market [1] Trading Overview - The Hang Seng Index fell by 1.73% on October 10 [1] - Total buy transactions for southbound funds amounted to 83.72 billion HKD, while total sell transactions reached 84.12 billion HKD, resulting in a net sell of 0.399 billion HKD [1] - Breakdown of trading through Stock Connect: - Shanghai Stock Connect: - Buy transactions: 51.79 billion HKD - Sell transactions: 53.01 billion HKD - Net sell: 1.22 billion HKD [1] - Shenzhen Stock Connect: - Buy transactions: 31.93 billion HKD - Sell transactions: 31.11 billion HKD - Net buy: 0.821 billion HKD [1]

Market Performance - The Hang Seng Index closed down by 462.27 points, a decline of 1.73%, ending at 26290.32 points [1][2] - The State-Owned Enterprises Index fell by 171.81 points, a decrease of 1.8%, closing at 9358.32 points [1][2] - The Red Chip Index increased by 24.42 points, a rise of 0.61%, finishing at 4036.18 points [1][2] Capital Flow - There was a net outflow of southbound funds amounting to 399 million Hong Kong dollars on the same day [1]

Core Insights - The Hong Kong stock market experienced a mixed performance on October 9, 2025, with the Hang Seng Index declining by 0.29% to 26,752.59, while the Hang Seng China Enterprises Index rose by 0.07% to 9,530.13, indicating a divergence in index movements [2][7][11] - The overall market turnover reached HKD 386.82 billion, with net inflows from southbound funds amounting to HKD 3.043 billion, reflecting continued interest from mainland investors [2][11] - Sector performance showed a rotation, with the Wind Hong Kong non-ferrous metals sector gaining strength due to rising overseas risk aversion and domestic policy support, while previously high-performing sectors like pharmaceuticals and semiconductors faced profit-taking and declined [2][11] Market Performance - The Hang Seng Technology Index fell by 0.66% to 6,471.34, contributing to the overall market's downward pressure [7][11] - In the A-share market, the Shanghai Composite Index increased by 1.32%, and the CSI 300 rose by 1.48%, indicating a stronger performance compared to the Hong Kong market [7][11] - Among the major sectors, the composite sector (+4.01%), non-ferrous metals (+3.77%), and coal (+2.81%) led the gains, while pharmaceuticals (-5.23%), light industry manufacturing (-5.00%), and electronics (-2.30%) lagged [7][11] Sector Analysis - The non-ferrous metals sector's rise was attributed to increased gold reserves in China and export controls on rare earth technologies, which positively influenced market expectations for supply and demand dynamics [11] - The construction sector saw increased interest due to expectations of accelerated infrastructure investment, leading to a shift in capital from previously high-flying sectors like semiconductors [11] - The report highlights three potential directions for future growth in the Hong Kong market: AI technology and new consumption, sustained inflows from southbound funds, and the impact of monetary policy changes in the U.S. and China [11]