LB Select
2023.11.28 09:13
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Why is Southbound capital in Hong Kong stocks "buying more as they fall"?

Recently, the outflow of funds to the south may have been affected by the demand for stable rankings, reflecting the short-term range-bound volatility of the Hong Kong stock market. Investors lack confidence in the upward trend of the market and are more inclined to seize the short-lived opportunities for upward movement after a pullback.

HTSC analyst Wang yi noted: from the perspective of capital, Hong Kong stocks have shown a switch from "southward inflow and outflow of foreign capital" to "double absence of domestic and foreign capital": ① the recent southward outflow may be affected by the demand for stable ranking of some funds and the lack of investor confidence, mainly flowing out of the Internet, consumption and other industries, but still increasing positions in medicine; this may reflect that Hong Kong stocks are still in the short-term range and investors lack of confidence in the upward trend, more inclined to capture the short upward opportunity after the callback.! ② Foreign investors in the U.S. debt dollar down slope or slowdown, real estate, debt policy has not yet been introduced, the allocation of Hong Kong stocks is more limited momentum, the key point to observe or for the December Central Economic Work Conference and next year's Fed rate cut expectations.! In addition, the recent policy game has entered a critical period, whether the follow-up trend upward or need to pay attention to the central economic work conference set the tone and follow-up policy effect verification, combined with the allocation of funds, business climate recovery, policy game triple direction, it is recommended to pay attention to the pharmaceutical/electronic/pro-cyclical industry.