Beishui Trends | Beishui net sold 4.66 billion Hong Kong dollars, domestic investors sold Hong Kong stock ETFs, and sold more than 2.1 billion Hong Kong dollars of Yingfu Fund

Zhitong Finance App learned that on July 25th, in the Hong Kong stock market, Beishui net sold HKD 4.66 billion in transactions. Among them, the net sales of the Shanghai-Hong Kong Stock Connect amounted to HKD 1.838 billion, and the net sales of the Shenzhen-Hong Kong Stock Connect reached HKD 2.823 billion.

The stocks with the most net purchases by Beishui were Tencent (00700) and China Construction Bank (00939). The stocks with the most net sales by Beishui were Yingfu Fund (02800), Southern Heng Seng Technology (03033), and Heng Seng China Enterprises (02828).

Active trading stocks in the Shanghai-Hong Kong Stock Connect

Active trading stocks in the Shenzhen-Hong Kong Stock Connect

Tencent (00700) received a net purchase of HKD 551 million. In terms of news, Morgan Stanley released a research report stating that the bank expects the company's revenue and adjusted operating profit in the second quarter of this year to increase by 7% and 25% year-on-year, respectively. With the success of the "DNF" mobile game, the outlook for the domestic gaming business is positive, and advertising growth should remain strong, while gross profit margins are expected to continue to expand. Tencent's stock buyback volume in the second quarter was more than twice the amount sold by the major shareholder Prosus, and is expected to achieve its goal of repurchasing over 100 billion yuan by the 2024 fiscal year.

China Construction Bank (00939) received a net purchase of HKD 115 million. In terms of news, the central bank announced a reduction in the 7-day reverse repurchase and LPR quotation rates on July 22. Huafu Securities pointed out that overall, the interest rate cut is beneficial for the banking sector. Although statically, the interest rate cut has a negative impact on bank interest spreads, the magnitude is relatively controllable and within market expectations. However, in the medium to long term, the interest rate cut will help boost credit demand, improve economic expectations, and thus benefit the fundamentals of the banking sector. Some institutions also believe that against the backdrop of stabilizing bank net interest margins and the market-oriented adjustment of deposit rates, bank deposit rates are expected to undergo a new round of cuts.

Oil stocks were sold off, with PetroChina (00857) and CNOOC (00883) experiencing net sales of HKD 167 million and HKD 450 million, respectively. In terms of news, Xu Lei, a refined oil analyst at Zhuochuang Information, stated that the strengthening of the US dollar has raised concerns about oil demand in the market. Coupled with expectations of easing tensions in the Middle East overshadowing the prospect of a Fed rate cut, bearish news on crude oil dominates, leading to a continued decline in international crude oil prices Lung Seng Information's oil analyst Liu Bingjuan believes that although the market's expectation of a rate cut by the Federal Reserve in September has strengthened, it will take some time. In the short term, the US dollar is still showing strength, coupled with lingering concerns about the economy and demand, international oil prices may face pressure.

Zijin Mining (02899) saw a net sell-off of HKD 239 million. On the news front, Xingzheng Futures pointed out that the stimulative effect of the rising rate cut expectations on precious metal prices is limited. Until the expectation of rate cuts expands further, the driving force for precious metals is insufficient. Moreover, due to the rising expectations of economic recession, silver is weaker than gold. However, on the other hand, there is uncertainty about the number of rate cuts by the Federal Reserve in the second half of the year. After a continuous rise in gold prices, it has encountered significant resistance. The current expectation of rate cuts is unable to sustain the upward trend in gold prices.

Hong Kong stock ETFs were sold off by Northbound funds, with Ying Fu Fund (02800), Southbound Hang Seng Tech (03033), and Hang Seng China Enterprises (02828) experiencing net sell-offs of HKD 2.117 billion, 0.999 billion, and 0.744 billion respectively. On the news front, TF Securities pointed out that despite the presence of a temporary rebound in Hong Kong stocks, they are still suppressed by fundamental factors overall. Looking ahead, against the backdrop of significantly improved sentiments from both domestic and foreign investors, Hong Kong stocks have seen a notable rebound. The sustainability and upside potential in the future require more solid fundamental data to support it, and a cautious optimistic attitude is still maintained during the period of economic recovery verification.

In addition, China Mobile (00941) saw a net sell-off of HKD 48.54 million