南向资金净卖出3.99亿港元。其中小米集团-Ｗ、泡泡玛特、中兴通讯净买入额位列前三，分别获净买 入9.33亿港元、6.7亿港元、4.91亿港元。净卖出方面，中芯国际、阿里巴巴-W、华虹半导体分别遭净 卖出27.09亿港元、18.1亿港元、11.45亿港元。 (本文来自第一财经) ...

Core Viewpoint - The article highlights a significant increase in southbound capital inflow into the Hong Kong market, indicating strong investor interest and activity in key technology stocks [1] Group 1: Capital Inflow and Trading Activity - Southbound capital recorded a cumulative net inflow of approximately 43.96 billion HKD this week, representing a week-on-week increase of about 20% [1] - The total trading volume for southbound capital reached approximately 756.20 billion HKD, accounting for about 50% of the total trading volume of the Hang Seng Index during the same period [1] Group 2: Major Stock Transactions - Notable net purchases included Alibaba-W with 19.61 billion HKD, Sunac China Holdings with 3.66 billion HKD, Tencent Holdings with 3.43 billion HKD, SMIC with 2.14 billion HKD, Meituan-W with 2.11 billion HKD, and Pop Mart with 1.75 billion HKD [1] - Significant net selling was observed in Hua Hong Semiconductor, with a net outflow of 0.87 billion HKD [1]

Group 1 - Southbound funds recorded a net purchase of 10.541 billion HKD [1] - The top three net purchases were Alibaba-W, Horizon Robotics-W, and Tencent Holdings, with net purchases of 2.412 billion HKD, 0.863 billion HKD, and 0.793 billion HKD respectively [1] - In terms of net selling, XPeng Motors-W, Hua Hong Semiconductor, and SMIC experienced net sales of 0.291 billion HKD, 0.212 billion HKD, and 0.146 billion HKD respectively [1]

Group 1 - Southbound funds recorded a net purchase of 11.046 billion HKD [1] - The top three net purchases were Alibaba-W, Tencent Holdings, and SMIC, with net purchases of 4.632 billion HKD, 1.111 billion HKD, and 959 million HKD respectively [1] - In terms of net selling, Xiaomi Group-W, Crystal International Holdings, and China Everbright Holdings faced net sales of 802 million HKD, 120 million HKD, and 71 million HKD respectively [1]

Market Overview - On September 22, the Hang Seng Index fell by 0.76%, with southbound trading totaling HKD 136.09 billion, comprising HKD 74.41 billion in buying and HKD 61.68 billion in selling, resulting in a net buying amount of HKD 12.736 billion [1] Southbound Trading Details - Southbound trading through the Stock Connect (Shenzhen) recorded a total transaction amount of HKD 50.073 billion, with buying at HKD 27.328 billion and selling at HKD 22.745 billion, leading to a net buying of HKD 4.583 billion [1] - Southbound trading through the Stock Connect (Shanghai) had a total transaction amount of HKD 86.020 billion, with buying at HKD 47.087 billion and selling at HKD 38.933 billion, resulting in a net buying of HKD 8.154 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total transaction amount of HKD 90.45 billion and a net buying of HKD 26.14 billion, while SMIC and Shankai Holdings followed with transaction amounts of HKD 89.67 billion and HKD 55.25 billion respectively [1] - The top net buying stock was the Tracker Fund of Hong Kong (盈富基金) with a net buying amount of HKD 28.64 billion, despite a closing price drop of 0.88% [1] - Meituan-W had the highest net selling amount of HKD 3.85 billion, with a closing price decline of 2.26% [1] Continuous Net Buying - Alibaba-W and Pop Mart were the only two stocks with continuous net buying for more than three days, with Alibaba-W having a total net buying of HKD 604.43 billion over 22 days, and Pop Mart with HKD 21.28 billion over 3 days [2] Summary of Active Stocks on September 22 | Code | Name | Transaction Amount (HKD million) | Net Buying (HKD million) | Daily Change (%) | | --- | --- | --- | --- | --- | | 02800 | Tracker Fund | 300062.61 | 286406.81 | -0.88 | | 09988 | Alibaba-W | 904530.67 | 261418.50 | 0.06 | | 02828 | Hang Seng China Enterprises | 86111.09 | 86061.50 | -1.48 | | 06088 | FITHONTENG | 240377.57 | 45123.01 | 17.83 | | 00412 | Shankai Holdings | 552511.40 | 42858.63 | 29.76 | | 00981 | SMIC | 896702.36 | 31778.65 | 5.16 | | 01810 | Xiaomi Group-W | 289237.11 | 15351.09 | -1.06 | | 00700 | Tencent Holdings | 342267.30 | 13464.57 | -0.23 | | 02020 | Anta Sports | 80758.47 | 12271.30 | -2.22 | | 01347 | Hua Hong Semiconductor | 79088.60 | 10589.67 | 3.57 | | 02228 | Crystal International | 158175.95 | 6579.02 | 8.06 | | 09992 | Pop Mart | 152325.56 | 1922.21 | -1.40 | | 03690 | Meituan-W | 382208.58 | -38469.29 | -2.26 | [2]

Group 1 - Southbound funds have recorded a net inflow for 18 consecutive weeks, with a total net inflow of 368.51 billion HKD this week, a decrease of 39.41% compared to the previous week [1][2] - The Hang Seng Index rose by 0.59%, the Hang Seng Tech Index increased by 5.09%, and the Hang Seng China Enterprises Index went up by 1.15% during the same period [1] - According to Guolian Securities, the Federal Reserve's interest rate cut cycle may benefit the Hong Kong stock market in breaking previous highs, as historical data shows a correlation between the Fed's policy cycles and the Hang Seng Index reaching new highs [1] Group 2 - Alibaba-W saw the highest trading volume among southbound funds this week, with a total transaction amount of 698.47 billion HKD and a net purchase of 163.05 billion HKD, marking a historical high in shareholding [2][4] - Alibaba-W's market capitalization has returned to 3 trillion HKD, with a year-to-date increase of 96.32% [2] - Other notable stocks include Meituan-W with a net purchase of 57.49 billion HKD and Xiaomi Group-W with a net sell of 16.65 billion HKD [4] Group 3 - China Mobile Hong Kong has completed its acquisition of Hong Kong Broadband, obtaining 78.08% of its shares in a transaction valued at approximately 5.9 billion HKD [6] - Hong Kong Broadband is the second-largest fixed-line operator in Hong Kong, and this acquisition is a significant market-oriented merger for China Mobile [6] Group 4 - Eleven stocks saw their shareholding from southbound funds increase by over 100%, with Baize Medical leading at a 2252.16% increase [8][9] - Baize Medical, a newly listed stock, experienced significant price volatility, with a peak increase of 50.59% followed by a cumulative decline of 38.22% [8] - Other stocks with substantial increases in shareholding include Nanshan Aluminum International and Hu Shang Ayi, both exceeding 500% growth [9] Group 5 - The stocks with the highest increase in southbound fund holdings this week include Baize Medical, Nanshan Aluminum International, and Hu Shang Ayi, with respective increases of 2252.16%, 741.28%, and 628.86% [9] - The latest shareholding data indicates that the proportion of holdings from southbound funds in certain stocks has increased significantly, with some stocks exceeding 20% [10]

Market Overview - On September 18, the Hang Seng Index fell by 1.35%, with southbound trading totaling HKD 210.55 billion, comprising HKD 108.42 billion in buying and HKD 102.13 billion in selling, resulting in a net buying amount of HKD 6.28 billion [1] Southbound Trading Details - Southbound trading through the Shenzhen Stock Connect had a total trading amount of HKD 76.78 billion, with buying at HKD 40.58 billion and selling at HKD 36.20 billion, leading to a net buying of HKD 4.38 billion [1] - The Shanghai Stock Connect recorded a total trading amount of HKD 133.77 billion, with buying at HKD 67.84 billion and selling at HKD 65.93 billion, resulting in a net buying of HKD 1.84 billion [1] Active Stocks - The most actively traded stock by southbound funds was Alibaba-W, with a total trading amount of HKD 210.72 billion, followed by SMIC and Tencent Holdings with HKD 140.50 billion and HKD 91.65 billion respectively [1] - In terms of net buying, Meituan-W led with a net buying amount of HKD 14.12 billion, followed by Alibaba-W with HKD 12.10 billion and Pop Mart with HKD 12.07 billion [1] - The stock with the highest net selling was Hua Hong Semiconductor, with a net selling amount of HKD 11.65 billion, while Tencent Holdings and SMIC had net selling amounts of HKD 4.18 billion and HKD 2.77 billion respectively [1] Continuous Net Buying - Two stocks, Alibaba-W and Meituan-W, have seen continuous net buying for over three days, with Alibaba-W having a total net buying of HKD 561.01 billion over 20 days and Meituan-W with HKD 49.01 billion over 4 days [2]

Core Viewpoint - Southbound funds saw significant inflow today, with a total transaction amount of approximately 210.55 billion HKD, marking an increase of nearly 32 billion HKD compared to the previous day, representing about 50.94% of the total turnover of the Hang Seng Index [2] Southbound Fund Flow - The net inflow of southbound funds today was approximately 6.288 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing about 1.907 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing about 4.382 billion HKD [2][4] - Major net inflows included Meituan-W (14.12 billion HKD), Alibaba-W (12.1 billion HKD), Pop Mart (12.07 billion HKD), and Xiaomi Group-W (6.61 billion HKD) [2] - Significant net outflows were observed in Hua Hong Semiconductor (11.65 billion HKD), Tencent Holdings (4.18 billion HKD), and SMIC (2.77 billion HKD) [2] Stock Performance - Meituan-W increased by 0.29%, but short-term funds have been predominantly flowing out, with a reduction of 1.237 million shares over the past five days [3] - Alibaba-W decreased by 1.98%, with short-term funds continuing to flow in, accumulating 12 million shares over the past five days [3] - Pop Mart rose by 4.62%, yet short-term funds continued to show a trend of outflow, with a reduction of 397,000 shares over the past five days [3] - Xiaomi Group-W fell by 1.73%, with a continued outflow trend, reducing 2.099 million shares over the past five days [3] - Hua Hong Semiconductor increased by 8.62%, with an unclear short-term fund trend, having accumulated 1.069 million shares over the past five days [3] - Tencent Holdings decreased by 2.95%, with an unclear short-term fund trend, reducing 820,000 shares over the past five days [3] - SMIC rose by 2.66%, with short-term funds predominantly flowing in, accumulating 2.057 million shares over the past five days [3]

Core Insights - Southbound funds recorded a transaction volume of approximately 178.81 billion HKD, showing an increase of about 13 billion HKD compared to the previous day, indicating a continuous trend of increased trading volume [2] - The Hang Seng Index saw a significant increase in trading volume, with a net inflow of approximately 9.44 billion HKD from southbound funds, including 2.16 billion HKD from the Shanghai-Hong Kong Stock Connect and 7.28 billion HKD from the Shenzhen-Hong Kong Stock Connect [2] Stock Performance - Alibaba-W (09988.HK) experienced a net inflow of 5.28%, with a total net buy of 5.05 billion HKD, and an increase of 116 million shares over the past five days [2][6] - Meituan-W (03690.HK) saw a 4.89% increase, but short-term funds continued to flow out, with a reduction of 27.87 million shares over the past five days [2][3] - Longi Green Energy (06869.HK) had a slight decline of 0.09%, yet short-term funds continued to flow in, with an increase of 517,000 shares over the past five days [2] - SMIC (00981.HK) rose by 7.12%, with a net buy of 4.07 billion HKD and an increase of 26.76 million shares over the past five days [3][6] - Xiaomi Group-W (01810.HK) increased by 2.48%, but short-term funds continued to flow out, with a reduction of 39.31 million shares over the past five days [3][6] - SenseTime-W (00020.HK) surged by 15.79%, with a net buy of 2.18 billion HKD and an increase of 43.06 million shares over the past five days [3][6]

Group 1 - Southbound funds recorded a net purchase of 9.44 billion HKD today [1] - Alibaba-W, Meituan-W, and Yangtze Optical Fiber and Cable ranked as the top three net purchases, with net purchases of 5.051 billion HKD, 2.1 billion HKD, and 1.021 billion HKD respectively [1] - On the sell side, Xiaomi Group-W, CanSino Biologics, and SenseTime-W experienced net sales of 639 million HKD, 265 million HKD, and 218 million HKD respectively [1]