Beishui Trends | Beishui Transactions made a net purchase of 8.544 billion yuan in domestic capital to grab Yingfu Fund (02800) to raise more than 6.4 billion dollars and sell Alibaba (09988) over HK$200 million

The Zhitong Finance App learned that on October 15, the Hong Kong Stock Exchange had a net purchase of HK$8.544 billion, of which the Hong Kong Stock Connect (Shanghai) transaction made a net purchase of HK$4.965 billion and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$3,579 billion.

The individual stocks that Beishui Net bought the most were Yingfu Fund (02800), Hang Seng China (02828), and SMIC (00981). The individual stocks sold the most by Beishui Net were Tencent (00700), CNOOC (00883), and Alibaba-W (09988).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Beishui Capital raised Hong Kong stock ETFs throughout the day. Yingfu Fund (02800) and Hang Seng China (02828) received net purchases of HK$6.416 billion and HK$1.65 billion respectively. According to the news, Ping An Securities believes that the US non-agricultural data for September greatly exceeded expectations, driving the correction of interest rate cut expectations, which may mean that the most relaxed overseas environment faced by Hong Kong stocks is over. Domestically, on October 12, the China Information Office's special finance session sent a signal to the market about a package of subsequent incremental policies, or stabilized the market, which had a complicated performance after the holiday season to a certain extent. Overall, after the market returned to rationality, Hong Kong stocks showed more of a volatile upward trend. At the same time, high volatility and high industry differentiation may have become the main characteristics of Hong Kong stocks recently. CITIC Securities, on the other hand, believes that Hong Kong stocks have reached their peak in stages, and the valuation repair market is expected to continue until early November.

SMIC (00981) received a net purchase of HK$608 million. According to the news, on the evening of October 11, SMIC announced that E-Fangda Shanghai Securities Science and Technology Innovation Board 50 ETF increased its domestic stock holdings by 9.6,162 million shares, an increase of 0.48%. After this increase in holdings, E-Fangda Shanghai Science and Technology Innovation Board 50 ETF held approximately 108.7 million shares of SMIC's domestic shares, accounting for 5.47% of the company's total domestic share capital and 1.36% of the company's total share capital. Debon Securities previously published a research report saying that semiconductors are an important investment direction in the bull market, and there may still be a lot of room for growth; looking back, the key direction of this round of semiconductor counterattacks is: autonomy and controllability, cycle reversal, and technological innovation.

China Mobile (00941) received a net purchase of HK$111 million. According to the news, the National Development and Reform Commission and other departments recently issued the “Guidelines for the Construction of a National Data Standard System”, which clarifies that the national data standard system will basically be completed by 2026, providing a clear development path for the data element industry. CITIC Securities pointed out that data element industry policies have been released intensively, and all provinces and cities have rapidly built relevant infrastructure platforms, laying a good foundation for subsequent data operation and circulation. Optimistic about the development prospects of the industry under policy guidance and support, the upstream and downstream data industry chains are expected to develop collaboratively.

Alibaba-W (09988) had a net sale of HK$209 million. According to the news, CMB International indicated that Alibaba's revenue for the second fiscal quarter of fiscal year 2025 is expected to increase 6% year over year to 238.3 billion yuan, while non-GAAP net profit falls 8% year on year to 36.8 billion yuan, all in line with market expectations. Group-level EBITA fell 6% year on year to RMB 40.4 billion, which means that the adjusted EBITA profit margin was 17%, compared to 19.1% in the same period last year. Notably, Hang Seng Index issued an announcement stating that since Alibaba has been included in the Hong Kong Stock Connect and meets the requirements of the relevant index rapid inclusion rules, Alibaba will be included in the Hang Seng Hong Kong Stock Connect Index etc. after the market closes on October 25, and will take effect on October 28.

CNOOC (00883) had a net sale of HK$210 million. According to the news, according to media reports, Israel is weighing the Biden administration's proposals and may abandon retaliation against Iran's nuclear and oil facilities in order to limit the potential escalation of the geographical situation. Affected by the news, international oil prices fell sharply, and WTI crude oil plummeted 5% during the day to around 70 US dollars/barrel. Furthermore, the International Energy Agency said that world oil demand growth has slowed sharply, while OPEC (OPEC) lowered its forecast for the growth rate of global oil demand for this year and next for three consecutive months.

Tencent (00700) had a net sale of HK$411 million. According to the news, Komo released a research report saying that the recent rise in Tencent Holdings' stock price outperformed other e-commerce stocks, which is a window for investors to increase potential macroeconomic recovery themes. The bank believes that Tencent Holdings' profits are driven more by non-cyclical operations, but it believes that the company's non-cyclical operations will continue to hand over a positive alpha, especially in the gaming business. Tencent Holdings' cyclical operation will also benefit from a recovery in consumption in the coming quarters, similar to e-commerce platforms.

Additionally, Xiaomi Group-W (01810) and Sunac China (01918) received net purchases of HK$204 million and HK$2009 million respectively.