Beishui Trends | Beishui Trading sold a net sale of 5.08 billion, Beishui massively sold AI hardware shares and reduced its holdings of Changfei Optical Fiber Cable (06869) by more than HK$900 million

The Zhitong Finance App learned that in the Hong Kong stock market on October 15, Beishui traded net sales of HK$5,080 billion. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$665 million and Hong Kong Stock Connect (Shenzhen) had net sales of HK$4.415 billion.

The individual stocks that Beishui Net bought the most were Tencent (00700) and CNOOC (00883). The individual stocks sold the most by Beishui Net were Changfei Optical Fiber Cable (06869), Huahong Hongli (01347), and SMIC (00981).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Tencent (00700) received a net purchase of HK$852 million. UBS expects Tencent's revenue to increase 7% in the third quarter, which is slower than growth in the second quarter. Adjusted net profit will decrease 7% year over year to 65 billion yuan, mainly affected by artificial intelligence investment and a possible decrease in the share of amortization in joint profits. Excluding investment in artificial intelligence, Tencent should continue to maintain the operating leverage effect. The adjusted operating profit growth rate is estimated at 13%.

CNOOC (00883) received a net purchase of HK$330 million. The recent escalation of the Saudi-Houthi armed conflict and attacks on more oil tankers still cause the market to continue to worry about export recovery. On the evening of the 13th, an attack on Saudi Aramco's office building in the east of the country caused a limited scale fire, and Iran also stepped up its crackdown on ships passing through the Strait of Hormuz. The oil price trend in October is still highly dependent on changes in the situation in the Middle East and strait flow.

Cambridge Technology (06166), Jiantao Laminated Board (01888), and Changfei Optical Fiber Cable (06869) received net sales of HK$200 million, 254 million, and HK$930 million respectively. US inflation data exceeded expectations and concerns about the AI valuation bubble. Global technology stocks are facing a new round of shock. The US CPI rose 3.7% year on year in September, and the core CPI rose to 2.6%. The market's bet on the Federal Reserve's interest rate hike in October once rose to 50%. Furthermore, the yield of CoreWeave bonds exceeded 15%, and the price fell below 80% of face value, raising market concerns about AI infrastructure financing costs.

Lenovo Group (00992) had a net sale of HK$356 million. Overnight, AI server stocks plummeted. Barclays analysts said they have yet to see a “meaningful AI inflection point” in corporate spending and downgraded the ratings of Dell, HPE, and NetApp from “buy” to a level equivalent to “hold,” citing “after a sharp rise in stock prices and the time rhythm of enterprise AI.”

SMIC (00981) and Huahong Hongli (01347) received net sales of HK$773 million and HK$799 million respectively. Lyon said earlier that, driven by demand for AI-related chips, the return of overseas orders, and localized manufacturing, the capacity utilization rate remains high, and the average sales price continues to rise quarterly, but investment in additional production capacity and depreciation of advanced manufacturing processes will limit profit margin improvements.