On October 27 in the Hong Kong stock market, northbound capital recorded a net sell-off of HK$1.238 billion. Of this, the Shanghai Stock Connect saw a net sell-off of HK$900 million, while the Shenzhen Stock Connect recorded a net sell-off of HK$338 million.
The stocks with the largest net buying by northbound capital were Xiaomi-W (01810), Z.AI (02513), and China Mobile (00941). The stocks with the largest net selling were YOFC (06869), KB Laminates (01888), and SMIC (00981). Active trading stocks on Shanghai Stock Connect and Shenzhen Stock Connect.
Xiaomi-W (01810) received net buying of HK$545 million. Xiaomi's technology public account disclosed results from its biomimetic dexterous hand technology exploration. The new generation product was designed around the flexible manufacturing scenarios at Xiaomi's auto factory, featuring 21 degrees of freedom, 26 motors with hybrid drive, and 1,500-point high-density full-palm touch sensing. Xiaomi disclosed that the new biomimetic hand, after multi-posture grasping tests, showed improved anthropomorphic grasping quality and success rates compared to the previous lower-degree-of-freedom version.
Z.AI (02513) and MINIMAX-W (00100) received net buying of HK$426 million and HK$175 million respectively. Anthropic has officially submitted its S-1 filing. According to reports, Anthropic plans to conduct its IPO during the week of November 16. Anthropic is targeting a valuation of up to US$2 trillion, and if successful, it would become the largest IPO in history. CITIC Securities released a research report stating that although the market is currently becoming more cautious about large models, it remains firmly bullish on the long-term commercial value and valuation growth potential of both Chinese and American models.
China Mobile (00941) received net buying of HK$415 million. JPMorgan released a research report stating that China Mobile's third-quarter profit fell 12% year-on-year, 5% below market consensus, but emphasized that the profit decline mainly came from non-operating items. Excluding non-operating items, third-quarter net profit was flat year-on-year, an improvement from the 4% and 15% year-on-year declines in the first and second quarters respectively, reflecting the effectiveness of operating expense optimization.
China Shenhua (01088) received net buying of HK$142 million. Morgan Stanley published a report stating that China Shenhua's net profit for the first nine months of this year rose 4% year-on-year to 44 billion yuan, implying third-quarter net profit rose 3% year-on-year to 15.7 billion yuan, broadly in line with market expectations. The bank expects fourth-quarter earnings to be resilient.
AI hardware stocks were sold off again, with Kingboard Holdings (00148), SMIC (00981), KB Laminates (01888), and YOFC (06869) receiving net selling of HK$42.09 million, HK$192 million, HK$305 million, and HK$518 million respectively. This week, three major tech giants — Alphabet, Microsoft, and Amazon — will release their earnings reports in a concentrated manner. Nomura's latest report stated that AI capital expenditure is caught in a dilemma. If hyperscaler capital expenditure continues to accelerate, the market will focus heavily on the sustained depletion of free cash flow and further question the overall financing sustainability; if hyperscaler capital expenditure sees a substantial deceleration, AI trades will face even more severe shocks.
CNOOC (00883) received net selling of HK$133 million. Officials from Saudi Arabia, Turkey, Pakistan, and Iran held talks in Tehran on Monday (the 26th) to strengthen efforts to ease tensions in the Middle East. All parties agreed that West Asian security must rely on their own strength and avoid any foreign intervention. After the meeting, all parties agreed to continue holding relevant talks in the future to strengthen cooperation among the four countries in areas including regional peace and security. Additionally, Keymed Biosciences-B (02162) received net buying of HK$73.08 million, while Tencent (00700) and Alibaba-W (09988) received net selling of HK$119 million and HK$161 million respectively.
Comments