Southbound Capital Posts Net Sell of HK$1.316 Billion; Lenovo, Alibaba, Meituan See Outflows
Southbound capital recorded a net outflow of HK$1.316 billion on the day, with Shanghai Connect seeing net inflows of HK$287 million and Shenzhen Connect net outflows of HK$1.603 billion. Weekly net buying shrank sharply to HK$89 million from HK$9.965 billion the prior week, as all three Hong Kong indices fell over 2% and three sessions saw outflows. MINIMAX-W, Zhipu, and Tencent led inflows, while Lenovo, Alibaba-W, and Meituan-W saw the largest outflows.
Southbound capital recorded a net outflow of approximately HK$1.316 billion on the day, with the Shanghai-Hong Kong Stock Connect seeing a net inflow of about HK$287 million and the Shenzhen-Hong Kong Stock Connect a net outflow of about HK$1.603 billion.
For the week, southbound capital posted a cumulative net purchase of HK$89 million, a sharp contraction from the net inflow of HK$9.965 billion in the previous week. All three major Hong Kong indices fell more than 2% over the week, and southbound trading turned cautious, with net outflows on three trading days.
In terms of individual stocks, MINIMAX-W saw a net purchase of HK$1.364 billion, Zhipu received HK$1.322 billion, Tencent Holdings gained HK$1.114 billion, and SMIC attracted HK$644 million. On the selling side, Lenovo Group saw a net sell of HK$1.072 billion, Alibaba-W was sold down by HK$1.063 billion, and Meituan-W by HK$426 million.
Over the past seven days, southbound capital made significant net purchases of MINIMAX-W (HK$8.469 billion), Tencent Holdings (HK$3.340 billion), Kingboard Laminates (HK$1.374 billion), and YOFC (HK$1.250 billion), while net selling Alibaba-W (HK$5.925 billion) and Lenovo Group (HK$1.550 billion).