Southbound Funds Net Sell HK$1.574 Billion for Third Day, Net Buy Zhipu; Hang Seng Recovers Above 25,000
On July 27, southbound funds recorded a net sell of HK$1.574 billion, marking a third consecutive day of net outflow with a cumulative HK$7.319 billion. The Hang Seng Index rebounded to close above the 25,000 level, while southbound funds accounted for 39.34% of total turnover. Daily net selling targeted Xiaomi, SMIC, Alibaba, and CNOOC. Over the past five trading days, funds reduced holdings in Meituan, Kingboard Laminates, SMIC, and Alibaba, while adding Zhipu, Xiaomi, and CNOOC.
On July 27, southbound funds recorded a turnover of approximately HK$82.805 billion, down about HK$5.9 billion from the previous day, accounting for 39.34% of the total turnover of the Hang Seng Index. The Hong Kong stock market rebounded with fluctuations, and the Hang Seng Index reclaimed the 25,000-point mark. Southbound funds recorded a net sell of approximately HK$1.574 billion on the day. The Shanghai-Hong Kong Stock Connect saw a net outflow of about HK$2.006 billion, while the Shenzhen-Hong Kong Stock Connect recorded a net inflow of about HK$432 million. In recent days, southbound funds have seen net outflows for three consecutive trading days, with cumulative net selling of approximately HK$7.319 billion.
Net selling of Xiaomi Group amounted to HK$1.232 billion, SMIC HK$698 million, Alibaba Group HK$675 million, and CNOOC HK$519 million. Over the past five trading days, southbound funds reduced holdings of Meituan by 25.07 million shares, increased holdings of Zhipu by 1.04 million shares, reduced holdings of Kingboard Laminates by 44.6 million shares, increased holdings of Xiaomi Group by 5.97 million shares, reduced holdings of SMIC by 7.46 million shares, reduced holdings of Alibaba Group by 30.06 million shares, and increased holdings of CNOOC by 46.61 million shares.