On April 9, mainland capital recorded a net purchase of HK$12.59 billion in the Hong Kong stock market. Specifically, the Shanghai-Hong Kong Stock Connect saw net inflows of HK$8.18 billion, while the Shenzhen-Hong Kong Stock Connect recorded net purchases of HK$4.41 billion.
The Tracker Fund of Hong Kong (02800) was the top recipient of mainland inflows, attracting over HK$5.63 billion. This was followed by XIAOMI-W (01810) and BABA-W (09988), which received net purchases of HK$1.11 billion and HK$940 million respectively. In contrast, CNOOC (00883) experienced net outflows of HK$210 million.
Among ETFs, the Tracker Fund of Hong Kong (02800) and the CSOP Hang Seng Tech Index ETF (03033) received net purchases of HK$5.63 billion and HK$449 million respectively. CITIC Securities noted that while Hong Kong markets have undergone significant corrections since February 2026, the bull market structure remains intact. The current pullback represents a typical mid-cycle adjustment rather than a trend reversal, presenting the first significant buying opportunity of the year.
XIAOMI-W (01810) attracted HK$1.11 billion in net purchases following the global launch of its MiMo large language model's Token Plan subscription service. This move marks XIAOMI's entry into commercial-scale AI delivery, with industry observers noting the subscription model simplifies previously complex token-based pricing structures.
BABA-W (09988) received HK$940 million in net inflows after CEO Daniel Zhang announced organizational changes to accelerate AI development. Key adjustments include establishing a group technology committee and upgrading the Tongyi large model division to a business unit.
POP MART (09992) gained HK$386 million in net purchases as its Labubu-FIFA World Cup collaboration sold out instantly online and sparked buying frenzies in physical stores. The company plans to launch Labubu 4.0 in the second half of 2026 and is developing an animated film with Sony to boost international visibility.
YOFC (06869) attracted HK$160 million in net purchases ahead of Google Cloud Next '26 (April 22-24), which will focus on enterprise AI and cloud innovations. Kaiyuan Securities suggested the event could signal new technological directions from Google, potentially expanding demand for optical communication systems. Global fiber optic price increases are expected to create a 15% supply-demand gap during 2026-2027.
TENCENT (00700) received modest net purchases of HK$59.66 million as Tencent Cloud announced price adjustments for AI computing power and related services effective May 9, 2026, citing rising global demand and supply chain costs. This follows a previous price increase implemented on March 11.
Meanwhile, Shandong Molong (00568) and SMIC (00981) received net purchases of HK$64.83 million and HK$64.13 million respectively.
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