In terms of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, southbound capital inflows set a record high of US$56 billion in 1Q25, and the industries with the most purchases included the Internet, finance and technology, UBS report wrote.

The broker listed the stocks with the largest inflows of southbound funds YTD:

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Shares│Southbound capital inflow (HKD)

BABA-W (09988.HK)  -5.500 (-4.192%)    Short selling $715.14M; Ratio 8.493%   │ 86 billion
TENCENT (00700.HK)  -11.000 (-2.126%)    Short selling $519.46M; Ratio 8.048%   │ 67 billion
CHINA MOBILE (00941.HK)  -0.800 (-0.950%)    Short selling $27.90M; Ratio 4.194%   │ 26 billion
SMIC (00981.HK)  -1.750 (-3.937%)    Short selling $254.45M; Ratio 10.055%   │ 23 billion
BANK OF CHINA (03988.HK)  +0.020 (+0.437%)    Short selling $73.97M; Ratio 12.750%   │ 19 billion
XIAOMI-W (01810.HK)  -2.050 (-4.051%)    Short selling $503.22M; Ratio 7.297%   │ 17 billion
CM BANK (03968.HK)  -0.250 (-0.514%)    Short selling $147.17M; Ratio 23.847%   │ 16 billion
ICBC (01398.HK)  +0.070 (+1.273%)    Short selling $163.57M; Ratio 13.258%   │ 15 billion
CHINA SHENHUA (01088.HK)  0.000 (0.000%)    Short selling $57.08M; Ratio 17.187%   │ 14 billion
CCB (00939.HK)  +0.020 (+0.296%)    Short selling $63.76M; Ratio 5.094%   │ 14 billion
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-13 12:25.)