截至4月9日为止的平均日成交额达到2,543亿港元，远高于去年同期的994亿港元以及2024年全年的1,318 亿港元。恒生科技指数截至2025年4月9日年初至今累涨4.95%，达到4,689点。在个别行业中，医疗保 健、信息技术和消费必需行业表现较好，分别录得8.71%、7.4%和7.21%的年初至今涨幅;而能源、工业 和综合企业行业则录得负收益，分别下跌15.18%、9.96%和9.58%。南向交易昨日(9日)录创纪录的净流 入。截至2025年4月9日，该行注意到南向交易在预期的经济复苏和地缘政治风险上升的背景下，年初至 今录得不错的净流入。南向交易年初至今净流入5,386亿元人民币，远高于去年同期的1,364亿元人民 币。 中银国际指，南向资金4月9日的净流入录自内地与香港股票互联互通机制启动以来的最高单日净流入， 超过第二高的2025年3月10日的277亿元人民币和第三高的2025年4月3日的271亿元人民币。该行注意 到，2025年3月的净流入1,498亿元人民币是自内地与香港股票互联互通机制启动以来的第二高月度净流 入。2021年1月的净流入2,595亿元人民币是该机制启动以来的最高月度净流入。 ...

南向资金今日大幅净买入355.86亿元。港股通（沪）方面，腾讯控股、盈富基金分别获净买入21.13亿港 元、18.32亿港元；快手-W净卖出额居首，金额为1.22亿港元；港股通（深）方面，阿里巴巴-W、美团- W分别获净买入19.57亿港元、10.78亿港元；中国海洋石油净卖出额居首，金额为3.92亿港元。 ...

| 00941 | 中国移动 | 140908.42 | 58830.51 | -0.13 | | --- | --- | --- | --- | --- | | 01810 | 小米集团-W | 1794825.02 | 34134.54 | 6.72 | | 09992 | 泡泡玛特 | 92622.81 | 16766.96 | 4.89 | | 02269 | 药明生物 | 238996.13 | -3280.06 | -2.52 | | 03033 | 南方恒生科技 | 132206.22 | -47076.45 | 4.10 | 今日上榜个股中，腾讯控股、阿里巴巴-W、美团-W等8只股同时上榜港股通（深）、港股通（沪）成 交活跃股，腾讯控股合计成交额160.50亿港元，成交净买入29.85亿港元，阿里巴巴-W合计成交额 146.09亿港元，成交净买入27.05亿港元。药明生物合计成交额23.90亿港元，成交净卖出3280.06万港 元。 从连续性进行统计， 有6只股获南向资金连续3天以上净买入，连续净买入天数较多的有腾讯控股、中 芯国际、小米集团-W，连续净买入天数分别为7天、7天、4天。以其间净 ...

智通财经4月8日电，截至发稿，南向资金净买入超90亿港元。 ...

Group 1 - Southbound funds significantly net bought 28.79 billion HKD in Hong Kong stocks on April 3, marking the second-highest single-day net purchase in history, following 29.63 billion HKD on March 10, 2025 [1] - The net purchases included 16.99 billion HKD from the Shanghai-Hong Kong Stock Connect and 11.80 billion HKD from the Shenzhen-Hong Kong Stock Connect, indicating strong investor confidence in the market [1] Group 2 - Zai Ding Pharmaceutical announced the grant of stock options and restricted stock units totaling 65.78 thousand shares of American Depositary Shares to 40 and 381 recipients respectively, reflecting the company's confidence in future growth [2] - The stock incentive plan aims to attract and retain talent, which could positively impact the company's performance [2] Group 3 - Huolala submitted its fifth listing application to the Hong Kong Stock Exchange, reporting a revenue of 1.593 billion USD for the previous year, a year-on-year increase of 19.39% [3] - The listing application is backed by major investors including Hillhouse Capital and Sequoia China, indicating strong market interest [3] Group 4 - Chifeng Jilong Gold Mining exercised its overallotment option, issuing 30.84 million H-shares at a price of 13.72 HKD per share, increasing the total issued shares from 205.7 million to 236.5 million [4] - This move demonstrates the company's financing capability and market demand [4] Group 5 - Zhao Wei Electromechanical plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange, indicating the company's intention to expand into international markets [5] - The company will consider the interests of existing shareholders and market conditions when determining the timing of the issuance [5]

Group 1 - The report indicates that after the Two Sessions, consumer policy expectations are driving A-shares towards new highs, while Hong Kong stocks are expected to reach new highs after a short-term adjustment [1] - The overall micro liquidity shows a net inflow of -596 billion CNY, with total funding supply at 248 billion CNY and demand at 844 billion CNY [2][7] - The net inflow of southbound funds remains high, with a net inflow of 908.09 billion CNY, reflecting continued optimism towards Hong Kong assets [4][39] Group 2 - The issuance scale of equity public funds has shown a recovery compared to the same period last month, with a new issuance of 216.50 million shares [10] - Northbound trading volume remains high, accounting for 13.14% of total A-share trading volume, despite a slight decrease from the previous period [13] - Margin financing continues to show a net inflow, with a total margin balance of 19,119 billion CNY, reflecting high participation in margin trading [15][18] Group 3 - The net outflow of existing stock ETFs has significantly narrowed, with a net redemption of -254.88 billion CNY compared to -1068.35 billion CNY in the previous period [23] - The equity financing scale is currently low, with a total of 71.02 billion CNY raised, down from 215.44 billion CNY in the previous period [26] - The pressure from lock-up releases has decreased significantly, with a total lock-up release value of 664.27 billion CNY, down 86.24% from the previous period [35]

Core Viewpoint - Hong Kong Stock Exchange is exploring a plan to lower the threshold for investors to purchase high-priced stocks, aiming to stimulate trading activity [1][2] Group 1: Market Conditions - The Hong Kong stock market has seen a significant adjustment recently, with 37 stocks priced over HKD 100 per share, including notable companies like Tencent and BYD [2] - The minimum trading unit for stocks varies from 100 shares to several thousand, depending on the company [2] - A reduction in the purchase threshold for high-priced stocks could enhance trading activity and positively impact the short-term performance of the Hong Kong Stock Exchange [2] Group 2: Market Dynamics - According to Tianfeng Securities, the market breadth of the Hang Seng Index has improved, with the percentage of stocks above the 20-day moving average rising from 22.9% to 90.4% [3] - However, the current market rally lacks broad participation, with only two sectors, Information Technology (+34.7%) and Consumer Discretionary (+32.1%), outperforming the Hang Seng Index [3] - The Hang Seng Technology Index's rolling 10-day trading volume once exceeded 40%, indicating a concentration of capital in a few sectors and potential overheating [3] Group 3: Fund Flows - Hedge funds saw significant inflows into Chinese equity assets in early February, but subsequently reduced their holdings over the following weeks, indicating volatility in trading [4] - Domestic capital has played a stabilizing role in the Hong Kong market, with cumulative net inflows from southbound trading exceeding HKD 4 trillion since the launch of the Hong Kong Stock Connect [4] - The allocation of southbound funds shows a "dumbbell" strategy, investing in both high-growth assets and high-dividend stocks for risk hedging [4] Group 4: Foreign Investment Sentiment - Foreign investment banks maintain a positive outlook on the Hong Kong market, noting its strength despite external market fluctuations [5] - A shift in global capital flows is observed, with a trend moving away from U.S. assets due to concerns over tariffs and economic downturns, benefiting markets in Europe and Asia [6] - The current market environment may lead to a concentration in technology growth stocks as the market adjusts [6]

南向资金今日成交概况 3月11日南向资金全天成交额1271.18亿港元，成交净卖出40.40亿港元。 具体看，港股通（沪）买入成交361.87亿港元，卖出成交382.92亿港元，合计成交额744.79亿港元，成 交净卖出21.05亿港元；港股通（深）买入成交253.52亿港元，卖出成交272.87亿港元，合计成交526.39 亿港元，成交净卖出19.35亿港元。（数据宝） 证券时报•数据宝统计显示，3月11日恒生指数下跌0.01%，南向资金合计买入成交615.39亿港元，卖出 成交655.79亿港元，合计成交额1271.18亿港元。 ...

Core Viewpoint - The article highlights a significant surge in southbound Hong Kong Stock Connect funds, with a net inflow of 152.8 billion HKD in February, marking a four-year high and the second highest monthly inflow in the history of the program [1][4][6]. Group 1: Southbound Fund Inflows - In February, southbound Hong Kong Stock Connect funds recorded a total net inflow of 152.8 billion HKD, the highest in four years and the second highest monthly inflow ever [1][4][6]. - The last trading day of February saw a notable adjustment in the Hong Kong market, with the Hang Seng Index dropping by 3.28% and the Hang Seng Tech Index falling by 5.32%, yet the southbound funds still recorded a net purchase of 11.9 billion HKD [5]. - Weekly statistics show that the total net inflow for the week reached 75 billion HKD, setting a new four-year weekly record [6]. Group 2: Performance of Technology Stocks - Technology stocks emerged as the biggest winners during this influx, with many experiencing significant gains that outpaced traditional industries [2]. - Despite the overall market adjustment on February 28, major indices in Hong Kong saw substantial increases in February, with the Hang Seng Index rising by 13.43% and the Hang Seng Tech Index by 17.88% [9]. - Several technology stocks, including Huahong Semiconductor, Alibaba-W, and Xiaomi Group-W, recorded cumulative gains exceeding 30% since the beginning of February [9]. Group 3: Divergence Among Technology Stocks - Not all technology stocks benefited equally from the inflow of southbound funds, indicating a significant divergence among different stocks [3][8]. - From early February to February 27, many stocks in the Hang Seng Index saw increased holdings from southbound funds, including major banks and tech companies like Alibaba-W and China National Petroleum [10]. - Conversely, some stocks such as SenseTime-W and Xiaomi Group-W experienced reductions in holdings, despite many of these stocks still showing price increases in February, suggesting a broader confidence in Chinese tech stocks [10].