Southbound Capital Holds 19.62% of Stock Connect Targets, 270 Stocks Above 20%
As of August 18, 2026, southbound capital held 504.48 billion shares of Hong Kong Stock Connect targets, representing 19.62% of total share capital and a market value of HK$6,044.15 billion, or 14.41% of the targets' total market value. Among individual stocks, 270 had southbound holdings exceeding 20%, with A+H shares accounting for 57.04% of these. The highest concentrations were in healthcare, industrials, and financials. Notable holdings included China Telecom at 70.40% and China Shenhua at 69.46%.
As of August 18, 2026, southbound capital held an overall 19.62% stake in Hong Kong Stock Connect targets. Statistics show that southbound capital held a total of 504.48 billion shares of these targets, representing 19.62% of their total share capital, with a combined market value of HK$6,044.15 billion, accounting for 14.41% of the total market value of the targets.
By individual stock holding ratio, 270 stocks had southbound holdings exceeding 20% of total share capital, 150 stocks had ratios between 10% and 20%, 109 between 5% and 10%, 86 between 1% and 5%, and 30 below 1%.
Among stocks with holdings above 20%, 154 were A+H shares, accounting for 57.04% of that group; among those with 10% to 20% holdings, A+H shares accounted for 20.00%. By HKEX industry classification, stocks with southbound holdings above 20% were mainly concentrated in healthcare, industrials, and financials, with 56, 47, and 34 stocks respectively.
Specific data for some high-holding stocks: China Telecom had southbound holdings of 9.771 billion shares, representing 70.40% of its issued shares; China Shenhua had 2.346 billion shares, or 69.46%; Kaisheng New Energy at 68.41%; Tianjin Capital Environmental Protection at 68.30%; Holly Futures at 64.64%; GAC Group at 64.00%; China Vanke at 61.49%; Jiangsu Ninghu Expressway at 61.18%; Orient Securities at 61.10%; and Huadian Power International at 60.80%. In addition, Xixiang Group, Xintian Green Energy, Fosun Pharma, Junshi Biosciences, Southern Hang Seng Tech, Jihong Shares, and Zhongzhou Securities all had southbound holdings exceeding 58%.