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<Research>Soochow Securities Lists Top 10 Net Buys/ Net Sells of Southbound Funds in HK Stocks (Table)
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Soochow Securities’ report stated that southbound capital inflows into Hong Kong stocks slowed last week (February 23-27), with a net inflow of HK$6.7 billion through the Southbound Stock Connect. The sectors with net inflows were information technology, consumer discretionary, and real estate/construction; and the sectors with net outflows were telecoms and utilities. Stocks with heavy net buying included MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), and TENCENT (00700.HK).

Last week, net inflows into ETFs (Southbound Stock Connect + QDII) investing in the Hong Kong market accelerated. The total scale expanded to HK$444.26 billion, up HK$13.64 billion. Among them, Southbound Stock Connect ETFs saw a net inflow of HK$1.9 billion, and QDII ETFs saw a net inflow of HK$9 billion.

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The broker listed the top ten net buys of Hong Kong stocks by southbound capital last week:

1) Top Ten Net Buys of Hong Kong Stocks by Southbound Capital

Stock | Net Inflow Amount (HK$)
MEITUAN-W (03690.HK) | 1.2 billion
XIAOMI-W (01810.HK) | 976 million
TENCENT (00700.HK) | 731 million
BABA-W (09988.HK) | 537 million
BYD COMPANY (01211.HK) | 472 million
UBTECH ROBOTICS (09880.HK) | 457 million
ZHAOJIN MINING (01818.HK) | 410 million
SMIC (00981.HK) | 389 million
KUAISHOU-W (01024.HK) | 377 million
KB LAMINATES (01888.HK) | 350 million

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2) Top Ten Net Sells of Hong Kong Stocks by Southbound Capital in the Past Two Weeks

Stock | Net Outflow Amount in Past 2 Weeks (HK$)
ZIJIN MINING (02899.HK) | -709 million
CHINA LIFE (02628.HK) | -589 million
MMG (01208.HK) | -534 million
POP MART (09992.HK) | -500 million
CHINAHONGQIAO (01378.HK) | -489 million
JIANGXI COPPER (00358.HK) | -473 million
MINTH GROUP-100 (00425.HK) | -339 million
COSCO SHIP ENGY (01138.HK) | -322 million
CMOC (03993.HK) | -315 million
ZTO EXPRESS-W (02057.HK) | -306 million
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