2月27日港股市场，北水成交净买入149.97亿港元，其中港股通(沪)成交净买入77.16亿港元，港股通(深)成交净买入72.81亿 港元。 北水净买入最多的个股是盈富基金(02800)、恒生中国企业(02828)、南方恒生科技(03033)。北水净卖出最多的个股是长飞 光纤光缆(06869)、华虹半导体(01347)、中芯国际(00981)。 北水再度抢筹港股ETF。盈富基金(02800)、恒生中国企业(02828)、南方恒生科技(03033)分别获净买入83.85亿、24.82亿、 20.39亿港元。消息面上，浦银国际认为，当前处于宏观数据的真空期，且全国两会前后政策预期升温，人民币有望继续 升值、外资回流和南向资金、险资等带来的增量资金加速入市，叠加部分行业龙头即将上市利好，都有助于强化春季行 情。 腾讯(00700)获净买入12.32亿港元。消息面上，春节AI大战收官数据显示，腾讯在春节AI大战中主打生态占位：元宝MAU 达1.14亿，DAU峰值破5000万。第一上海表示，元宝虽未迎流量大爆发，但相对谨慎的规避了低ROI的粗放式买量消耗。 其核心逻辑是沉淀熟人关系链为AI资产，为后续微信原生Agent ...

Group 1 - The Hong Kong Stock Connect (Shanghai) saw significant net purchases in the Yingfu Fund and Hang Seng China Enterprises, amounting to HKD 67.77 billion and HKD 18.16 billion respectively [1] - On the other hand, Changfei Optical Fiber Cable recorded the highest net sell-off, totaling HKD 4.47 billion [1] Group 2 - In the Hong Kong Stock Connect (Shenzhen), the Southern Hang Seng Technology and Yingfu Fund experienced net purchases of HKD 20.39 billion and HKD 16.08 billion respectively [1] - Conversely, Huahong Semiconductor had the highest net sell-off, amounting to HKD 2.72 billion [1]

Core Viewpoint - Southbound capital flow decreased significantly today, with a total transaction of approximately HKD 925.13 billion, accounting for 39.07% of the total turnover of the Hang Seng Index [1] Group 1: Southbound Capital Flow - Southbound capital outflow amounted to approximately HKD 40.57 billion today, with net outflow from the Shanghai-Hong Kong Stock Connect at about HKD 54.95 billion and net inflow from the Shenzhen-Hong Kong Stock Connect at approximately HKD 14.38 billion [1] - Major ETFs such as the Tracker Fund of Hong Kong, Hang Seng China Enterprises, and Southern Hang Seng Technology experienced significant sell-offs, with net sales of HKD 44.1 billion, HKD 11.36 billion, and HKD 3 billion respectively [1] Group 2: Individual Stock Performance - Tencent Holdings saw a net buy of HKD 8.18 billion, with a price increase of 0.48% [2][3] - Meituan-W recorded a net buy of HKD 6.78 billion, with a price increase of 1.60% [2][3] - Alibaba-W had a net buy of HKD 6.06 billion, with a price increase of 0.20% [2][3] - Xiaomi Group-W experienced a net buy of HKD 5.38 billion, but saw a price decrease of 0.39% [2][3] - Changfei Optical Fiber Cable had a net buy of HKD 1.82 billion, with a price increase of 1.63% [2][3] - China Merchants Energy had a net outflow of HKD 3.58 billion, with a price increase of 0.96% [2][3]

来源：视频滚动新闻 港股通（沪）方面，腾讯控股、中国移动分别获净买入22.02亿港元、4.08亿港元；盈富基金净卖出额居 首，金额为25.58亿港元；港股通（深）方面，南方恒生科技、小米集团-W分别获净买入6.69亿港元、 3.29亿港元；盈富基金净卖出额居首，金额为12.05亿港元。 ...

(本文来自第一财经) 南向资金净买入9.52亿港元，腾讯控股、南方恒生科技、中国移动净买入额位列前三，分别获净买入 19.55亿港元、6.69亿港元、4.08亿港元。净卖出方面，盈富基金、中芯国际、阿里巴巴-W分别遭净卖 出37.63亿港元、15.77亿港元、11.98亿港元。 来源：第一财经 ...

Group 1: Market Overview - The Hong Kong stock market showed a positive sentiment with all three major indices rising, led by the Hang Seng Tech Index which increased by 1.11% [1] - The market exhibited characteristics of "policy-driven technology" and "strengthening of safe-haven assets," with total market turnover rising to HKD 250.5 billion [1] - Southbound capital saw a significant rebound, with a net inflow of HKD 13.9 billion, indicating renewed investor interest [1] Group 2: Sector Performance - The technology sector was the main driver of the rebound, particularly stocks related to robotics, which surged following favorable policies from the Ministry of Industry and Information Technology [2] - Semiconductor stocks also performed well, reflecting a recovery in investor confidence towards hard technology sectors [2] - In contrast, the domestic demand and real estate sectors showed weakness, with sportswear stocks declining due to disappointing quarterly results from leading companies [2] Group 3: Company Analysis - Trip.com Group - Trip.com Group is under investigation for potential anti-competitive practices, specifically regarding its "price adjustment assistant" feature, which automatically adjusts hotel prices based on market data [5][6] - Following the announcement of the investigation, the company's ADR fell by 17% and its Hong Kong stock price dropped by 19% [5] - The potential financial impact of the investigation could result in fines ranging from HKD 400 million to HKD 4 billion, which may affect the company's adjusted net profit for 2026 [7] Group 4: Competitive Landscape and Valuation - The investigation's timeline is estimated to be around 4-6 months, with potential penalties based on previous cases indicating fines of 1%-10% of the previous year's sales [7] - Despite the investigation, Trip.com is expected to maintain its leading position in the OTA market, although there may be slight adjustments in commission rates [7] - The target price for Trip.com has been adjusted to HKD 551 (9961.HK) / USD 71 (TCOM.US) based on a revised valuation of 16 times the 2026 earnings, down from 20 times [8]

据统计，南下资金已连续8日净买入阿里，共计58.3455亿港元；连续4日净买入小米，共计20.1881亿港 元；连续13日净卖出中国移动，共计102.2037亿港元。(格隆汇) 格隆汇1月21日｜南下资金今日净买入港股139.3亿港元。其中： 净买入盈富基金41.53亿、恒生中国企业18.17亿、阿里巴巴-W 10.78亿、中国人寿10.08亿、快手-W 7.33 亿、小米集团-W 5.89亿、中芯国际3.87亿、中国海洋石油3.64亿、山东黄金3.03亿、美团-W 2.04亿、 净卖出中国移动9.21亿、腾讯控股2.71亿、华虹半导体1.2亿。 | | 沪股通 | | | 深股通 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 潔跌幅 | 净买入额(亿) | 成交额 | 名称 | 涨跌幅 | 净买入额(亿) | 成交割 | | 阿里巴巴-W | 2.2% | 9.45 | 42.24 Z | 腾讯控股 | 0.3% | -3.01 | 25.58 Z | | 小米集团-W | -0.2% | 3.08 | 41.87 Z | ...

每经AI快讯，南向资金今日净卖出38.45亿港元。其中，盈富基金、腾讯控股分别遭净卖出16.12亿港 元、12.79亿港元；中芯国际获净买入约7.59亿港元。 ...

港股通（沪）方面，农业银行、阿里巴巴-W分别获净买入3.95亿港元、1.98亿港元；盈富基金净卖出额 居首，金额为13.23亿港元；港股通（深）方面，小米集团-W、美团-W分别获净买入7.67亿港元、3.21 亿港元；盈富基金净卖出额居首，金额为2.35亿港元。 ...

每经AI快讯，12月10日，南向资金净卖出10.18亿港元。其中，盈富基金、腾讯控股分别遭净卖出15.59 亿港元、6.06亿港元；小米集团-W获净买入约6.20亿港元。 ...