（亿港元） 卖出成交额 （亿港元） 成交净买入 证券时报•数据宝统计显示，11月4日恒生指数下跌0.79%，南向资金合计买入成交549.64亿港元，卖出 成交451.32亿港元，合计成交额1000.96亿港元，全天成交净买入98.32亿港元，连续10日净买入。 具体看，港股通（沪）买入成交332.51亿港元，卖出成交280.49亿港元，合计成交额613.00亿港元，成 交净买入52.02亿港元；港股通（深）买入成交217.13亿港元，卖出成交170.83亿港元，合计成交387.96 亿港元，成交净买入46.30亿港元。（数据宝） 南向资金今日成交概况 买入成交额 11月4日南向资金全天成交额1000.96亿港元，成交净买入98.32亿港元。 （亿港元） 港股通（深） 217.13 170.83 46.30 港股通（沪） 332.51 280.49 52.02 合计 549.64 451.32 98.32 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 ...

1) 市场整体活跃度明显抬升：年初至今日均成交额达2579亿港元，较2024年1318亿港元接近翻倍； 智通财经APP获悉，中金公司发布研报称，今年以来，港股持续活跃并领跑全球，高度结构化的轮动行情背后与流动性的活跃有直接关系。从资金角度 看，既有全球"去美元化"叙事下一部分分散化投资需求下的资金流入，也有国内缺乏投资机会下寻求更高回报南向资金的持续流入。南向资金上，主动公 募并非主力，尤其三季度后居民入市"接力"机构。机构"子弹"没有想的那么多，但个人的潜力与变数较大。 中金公司主要观点如下： 今年以来，港股持续活跃并领跑全球市场，同时也呈现高度结构化的轮动行情。这一表现得益于年初DeepSeek引领的资产重估叙事，以及后续新消费、 创新药等结构性机会的持续涌现，同时也与流动性的活跃有直接关系。从资金角度看，既有全球"去美元化"叙事下一部分分散化投资需求下的资金流入， 也有国内缺乏投资机会下寻求更高回报下南向资金的持续流入，例如上半年的保险资金和下半年的存款活化和理财入市叙事。具体体现在， 2) 南向资金大幅加码，三季度后个人或取代保险：日均流入规模达64.2亿港元，是2024年全年日均34.7亿港元的近两 ...

南向资金ETF买入及卖出成交额 （文章来源：证券时报网） 港股通（沪）（亿港元） 14.15 港股通（深）（亿港元） 8.59 港股通合计（亿港元） 22.74 今日（11月3日）南向资金ETF买入及卖出成交额为22.74亿港元，较前一日减少7.11亿港元，占南向资 金今日成交额的2.13%。 具体来看，港股通（沪）ETF买入及卖出成交额14.15亿港元，港股通（深）ETF买入及卖出成交额8.59 亿港元。（数据宝） ...

Summary of Key Points Core Viewpoint - On November 3rd, southbound funds recorded a total trading volume of 106.776 billion HKD, with a net buying amount of 5.472 billion HKD, marking the ninth consecutive day of net buying [1] Trading Overview - The Hang Seng Index increased by 0.97% on the same day [1] - Total buying transactions amounted to 56.124 billion HKD, while selling transactions were 50.652 billion HKD, resulting in a net buying of 5.472 billion HKD [1] - Southbound trading through the Shanghai-Hong Kong Stock Connect saw buying transactions of 32.839 billion HKD and selling transactions of 31.536 billion HKD, leading to a net buying of 1.303 billion HKD [1] - Southbound trading through the Shenzhen-Hong Kong Stock Connect recorded buying transactions of 23.285 billion HKD and selling transactions of 19.116 billion HKD, resulting in a net buying of 4.169 billion HKD [1]

Core Insights - The net buying amount of southbound funds reached 1 billion HKD on November 3 [1] Group 1 - Southbound funds have shown a significant inflow, indicating positive investor sentiment towards Hong Kong stocks [1]

Core Viewpoint - On October 31, southbound funds recorded a total transaction amount of 125.148 billion HKD, with a net buy of 8.718 billion HKD, marking the eighth consecutive day of net buying [1] Summary by Category Southbound Fund Transaction Overview - The Hang Seng Index fell by 1.43% on October 31 [1] - Total buying transactions amounted to 66.933 billion HKD, while selling transactions were 58.215 billion HKD, resulting in a net buying of 8.718 billion HKD [1] - The breakdown of transactions is as follows: - Hong Kong Stock Connect (Shanghai): - Buying transactions: 41.043 billion HKD - Selling transactions: 35.272 billion HKD - Net buying: 5.771 billion HKD [1] - Hong Kong Stock Connect (Shenzhen): - Buying transactions: 25.890 billion HKD - Selling transactions: 22.943 billion HKD - Net buying: 2.947 billion HKD [1]

Core Viewpoint - The southbound funds' ETF trading volume today is 2.39% of the total southbound funds trading volume, amounting to 2.985 billion HKD, a decrease of 4.26 billion HKD from the previous day [1] Group 1: Southbound Funds Trading - The total trading volume for southbound funds' ETFs is 2.985 billion HKD [1] - The trading volume for Hong Kong Stock Connect (Shanghai) ETFs is 1.790 billion HKD [1] - The trading volume for Hong Kong Stock Connect (Shenzhen) ETFs is 1.195 billion HKD [1]

Group 1 - Southbound funds recorded a net purchase of 13.641 billion HKD today [1] - The top net purchases were in the following companies: Yingfu Fund (4.633 billion HKD), Alibaba-W (0.876 billion HKD), and Meituan-W (0.806 billion HKD) [1] - ZTE Corporation had the highest net sell amount, totaling 0.324 billion HKD [1]

Core Insights - On October 30, southbound funds recorded a total trading volume of 152.84 billion HKD, with a net buying amount of 13.64 billion HKD, marking the seventh consecutive day of net inflows [1] Trading Overview - The Hang Seng Index declined by 0.24% on the same day [1] - Total buying transactions for southbound funds amounted to 83.24 billion HKD, while selling transactions reached 69.60 billion HKD, resulting in a total trading volume of 152.84 billion HKD and a net buying of 13.64 billion HKD [1] - Breakdown of trading through Stock Connect: - Northbound Stock Connect (Shanghai): - Buying transactions: 49.62 billion HKD - Selling transactions: 43.01 billion HKD - Total trading volume: 92.63 billion HKD - Net buying: 6.61 billion HKD - Northbound Stock Connect (Shenzhen): - Buying transactions: 33.62 billion HKD - Selling transactions: 26.59 billion HKD - Total trading volume: 60.21 billion HKD - Net buying: 7.03 billion HKD [1]

Group 1 - Southbound funds recorded a net purchase of 2.258 billion HKD today [1] - The top three net purchases were China Mobile, Hua Hong Semiconductor, and Pop Mart, with net purchases of 513 million HKD, 396 million HKD, and 323 million HKD respectively [1] - In terms of net selling, Alibaba-W, Tencent Holdings, and Li Auto-W faced net sales of 523 million HKD, 356 million HKD, and 292 million HKD respectively [1]