Hong Kong Stocks Fall 2.15% for Week; Tencent Net Bought, Alibaba Sold
Hong Kong's major stock indices fell for the week ended Aug. 14, with the Hang Seng Index down 2.15%, the Hang Seng Tech Index down 3.1%, and the Hang Seng China Enterprises Index down 2.24%. Southbound trading recorded a net buy of HK$89 million. Tencent Holdings saw the largest net inflow of HK$7.729 billion, while Alibaba-W saw a net outflow of HK$2.614 billion. Among 19 active stocks, 14 saw southbound holdings rise over 15%.
During the week of Aug. 10-14, major Hong Kong stock indices fell collectively. The Hang Seng Index dropped 2.15% for the week, the Hang Seng Tech Index fell 3.1%, and the Hang Seng China Enterprises Index declined 2.24%. Southbound capital recorded a net buy of HK$89 million for the week.
A total of 19 stocks appeared on the list of active stocks in the Hong Kong Stock Connect. Tencent Holdings had the highest total buy and sell turnover on the Hong Kong Stock Connect for the week, reaching HK$35.659 billion; Zhipu followed with HK$34.304 billion; MINIMAX-W, SMIC, and Kingboard Laminates each had turnover exceeding HK$20 billion.
In terms of net buy amount, southbound funds had mixed positions on internet giants this week. Tencent Holdings received a net buy of HK$7.729 billion from southbound funds, Xiaomi Group-W received a net buy of HK$965 million, Alibaba-W saw a net sell of HK$2.614 billion, and Meituan-W saw a net sell of HK$320 million.
In terms of changes in shareholdings, 14 stocks saw southbound fund holdings increase by more than 15% week-on-week. Xinqi Micro led with a 69.62% increase; Nanhua Futures, Minglue Technology-W, and Auntie Shanghai saw the largest increases in holdings, at 55.26%, 38.49%, and 33.61%, respectively.