（文章来源：证券时报网） 港股通（沪）（亿港元） 7.51 港股通（深）（亿港元） 0.98 港股通合计（亿港元） 8.49 南向资金ETF买入及卖出成交额 今日（12月5日）南向资金ETF买入及卖出成交额为8.49亿港元，较前一日减少32.55亿港元，占南向资 金今日成交额的1.03%。 具体来看，港股通（沪）ETF买入及卖出成交额7.51亿港元，港股通（深）ETF买入及卖出成交额0.98 亿港元。（数据宝） ...

Core Viewpoint - The Hang Seng Index rose by 0.58% on December 5, with southbound capital recording a total transaction amount of HKD 82.7 billion, resulting in a net inflow of HKD 13.41 billion [2] Group 1: Southbound Capital Transactions - Total southbound capital transactions amounted to HKD 82.7 billion, with buy transactions at HKD 42.02 billion and sell transactions at HKD 40.68 billion, leading to a net buy of HKD 13.41 billion [2] - The Shenzhen Stock Connect saw a cumulative transaction amount of HKD 35.38 billion, with net buying of HKD 17.35 billion, while the Shanghai Stock Connect recorded a cumulative transaction amount of HKD 47.32 billion, resulting in a net sell of HKD 3.94 billion [2] Group 2: Active Stocks - Alibaba-W had the highest transaction amount among southbound stocks at HKD 69.86 billion, but experienced a net sell of HKD 17.76 billion, despite a closing price increase of 0.39% [2][3] - Xiaomi Group-W recorded a total transaction amount of HKD 65.04 billion with a net buy of HKD 30.13 billion, closing up by 1.91% [3] - Meituan-W had a total transaction amount of HKD 17.28 billion with a net buy of HKD 6.07 billion, closing up by 0.97% [3] Group 3: Continuous Net Buying and Selling - Xiaomi Group-W and Meituan-W were among the stocks with the longest continuous net buying days, with 6 and 7 days respectively, and total net buys of HKD 50.66 billion and HKD 28.96 billion [3] - Tencent Holdings and SMIC were notable for continuous net selling, with total net sells of HKD 39.05 billion and HKD 35.68 billion respectively [3][4]

具体看，港股通（沪）买入成交226.73亿港元，卖出成交236.74亿港元，合计成交额463.47亿港元，成 交净卖出10.01亿港元；港股通（深）买入成交159.11亿港元，卖出成交134.30亿港元，合计成交293.41 亿港元，成交净买入24.81亿港元。（数据宝） （文章来源：证券时报网） 12月4日南向资金全天成交额756.88亿港元，成交净买入14.80亿港元。 | | 买入成交额（亿港元） | 卖出成交额（亿港元） | 成交净买入（亿港元） | | --- | --- | --- | --- | | 港股通（深） | 159.11 | 134.30 | 24.81 | | 港股通（沪） | 226.73 | 236.74 | -10.01 | | 合计 | 385.84 | 371.04 | 14.80 | 证券时报·数据宝统计显示，12月4日恒生指数上涨0.68%，南向资金合计买入成交385.84亿港元，卖出 成交371.04亿港元，合计成交额756.88亿港元，全天成交净买入14.80亿港元，连续6日净买入。 南向资金今日成交概况 ...

今日（12月4日）南向资金ETF买入及卖出成交额为41.04亿港元，较前一日增加30.17亿港元，占南向资 金今日成交额的5.42%。 具体来看，港股通（沪）ETF买入及卖出成交额33.87亿港元，港股通（深）ETF买入及卖出成交额7.16 亿港元。（数据宝） 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） 33.87 港股通（深）（亿港元） 7.16 港股通合计（亿港元） 41.04 ...

南向资金今日净买入22.79亿元。港股通（沪）方面，阿里巴巴-W、美团-W分别获净买入2.6亿港元、 1.29亿港元；腾讯控股净卖出额居首，金额为7.26亿港元；港股通（深）方面，小米集团-W、美团-W 分别获净买入9.46亿港元、1.69亿港元；中芯国际净卖出额居首，金额为1.88亿港元。 ...

Core Insights - On December 3, southbound funds recorded a total trading volume of 66.132 billion HKD, with a net buying amount of 2.280 billion HKD, marking the fifth consecutive day of net buying [1] Trading Overview - The Hang Seng Index fell by 1.28% on December 3 [1] - Total southbound fund buying amounted to 34.206 billion HKD, while selling reached 31.926 billion HKD, resulting in a net buying of 2.280 billion HKD [1] - Breakdown of trading through Stock Connect: - Shanghai Stock Connect: - Buying: 19.799 billion HKD - Selling: 19.251 billion HKD - Net Buying: 0.548 billion HKD - Shenzhen Stock Connect: - Buying: 14.407 billion HKD - Selling: 12.675 billion HKD - Net Buying: 1.732 billion HKD [1]

（原标题：12月2日南向资金ETF成交额14.36亿港元） 今日（12月2日）南向资金ETF买入及卖出成交额为14.36亿港元，较前一日增加7.35亿港元，占南向资 金今日成交额的1.86%。 具体来看，港股通（沪）ETF买入及卖出成交额10.96亿港元，港股通（深）ETF买入及卖出成交额3.41 亿港元。（数据宝） | 港股通（沪）（亿港元） | 10.96 | | --- | --- | | 港股通（深）（亿港元） | 3.41 | | 港股通合计（亿港元） | 14.36 | 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。 南向资金ETF买入及卖出成交额 ...

Group 1 - The Hong Kong stock market has shown strong performance, with a significant rebound expected in 2025, primarily driven by southbound capital from mainland investors [1] - Southbound capital has reached a record net inflow of 1.38 trillion HKD this year, contributing to a nearly 30% increase in the Hang Seng Index and over 25% in the Hang Seng Tech Index [1] - The popularity of ETFs has surged, with notable inflows into technology and thematic ETFs, reflecting high confidence among mainland investors in the tech sector [1] Group 2 - The convenience of accessing the Hong Kong stock market for mainland investors has been a key factor in the significant growth of ETF investments this year [2] - The deepening of the mutual market access mechanism and the proliferation of financial technology have made it easier for investors to open accounts and trade [2] - The outlook for southbound capital remains positive, particularly in sectors like technology, internet, pharmaceuticals, and high-end manufacturing, as the market continues to recover [2] Group 3 - Baihui Financial Holdings operates Baihui Securities, which is licensed by the Hong Kong Securities and Futures Commission for regulated activities [3] - Baihui Capital holds multiple licenses and has sponsorship qualifications, enhancing its capabilities in the financial market [3]

南向资金今日成交概况 | | 买入成交额（亿港元） | 卖出成交额（亿港元） | 成交净买入（亿港元） | | --- | --- | --- | --- | | 港股通（深） | 169.56 | 138.85 | 30.71 | | 港股通（沪） | 236.96 | 226.65 | 10.31 | | 合计 | 406.52 | 365.50 | 41.02 | （文章来源：证券时报网） 12月2日南向资金全天成交额772.02亿港元，成交净买入41.02亿港元。 证券时报·数据宝统计显示，12月2日恒生指数上涨0.24%，南向资金合计买入成交406.52亿港元，卖出 成交365.50亿港元，合计成交额772.02亿港元。 具体看，港股通（沪）买入成交236.96亿港元，卖出成交226.65亿港元，合计成交额463.61亿港元，成 交净买入10.31亿港元；港股通（深）买入成交169.56亿港元，卖出成交138.85亿港元，合计成交308.41 亿港元，成交净买入30.71亿港元。（数据宝） ...

- The report discusses the construction of two quantitative models for Hong Kong stock market sector rotation based on southbound capital flows: one adjusted by sector market capitalization and another adjusted by the three-year percentile of sector market capitalization preferences of southbound capital[20][22] - The first model, adjusted by sector market capitalization, aims to capture the recent preferences of southbound capital by normalizing the net inflow of capital into each sector relative to its market capitalization[20] - The second model, adjusted by the three-year percentile of sector market capitalization preferences, seeks to identify long-term trends in sector preferences by calculating the historical percentile rank of capital inflows into each sector over the past three years[20] - Both models are tested against the Hang Seng Index and equal-weighted sector portfolios, demonstrating the ability to generate excess returns[22]