Beishui Trends | Beishui's net buying volume reached 4.871 billion, domestic investors re-entered the Hong Kong stock ETF market, rushing to subscribe to Tracker Fund with nearly 1.2 billion Hong Kong dollars

According to the VESYNC financial APP, on July 15th, in the Hong Kong stock market, the net purchase of Beishui amounted to HKD 4.871 billion. Among them, the net purchase of Hong Kong Stock Connect (Shanghai) was HKD 2.698 billion, and the net purchase of Hong Kong Stock Connect (Shenzhen) was HKD 2.173 billion.

The stocks with the highest net purchases by Beishui are TRACKER FUND (02800), HSCEI (02828), and Nanhua HS Tech (03033). The stocks with the highest net sales by Beishui are CNOOC (00883) and Kingsway Group (01548).

Active trading stocks in Hong Kong Stock Connect (Shanghai)

Active trading stocks in Hong Kong Stock Connect (Shenzhen)

Beishui funds are rushing to buy Hong Kong stock ETFs, with TRACKER FUND (02800), HSCEI (02828), and Nanhua HS Tech (03033) receiving net purchases of HKD 1.193 billion, HKD 609 million, and HKD 256 million respectively. On the news front, Dongwu Securities pointed out that there is a bottom to the downside risk of Hong Kong stocks in the future. This is mainly based on the fact that the downside risk of the macro economy has been partially released; the valuation of Hong Kong stocks is still cheap enough; although the Fed's interest rate cuts have been repeatedly postponed, global investors are voting with their feet, and it is expected that the rate-cut cycle has begun. Zhongjin Securities stated that the better performance of Hong Kong stocks compared to A-shares this week once again demonstrates that Hong Kong stocks are more sensitive to external factors such as the Fed's interest rate cuts and changes in U.S. bond rates, while their lower valuation provides greater elasticity.

Industrial and Commercial Bank of China (01398) and China Construction Bank (00939) received net purchases of HKD 203 million and HKD 23.4 million respectively. On the news front, CITIC Securities pointed out that the previous multi-party policies have helped improve the market's risk expectations for banks, and the valuation of bank stocks has been further supported by fundamentals, further solidifying the certainty of dividend income space. Zhongjin believes that in the short term, banks can adjust their asset-liability structure and policy can guide the downward cost of liabilities to hedge the pressure of interest rate spreads. The profit and dividend expectations of listed banks in 2024 remain stable, and their profit growth resilience is stronger compared to other industries China Mobile (00941) received a net buy of HKD 197 million. On the news front, Huatai Securities believes that as a benchmark for state-owned enterprises in the technology sector, telecom operators are expected to benefit from the development of new productive forces in China. Zheshang Securities also pointed out that the overall business of telecom operators is growing steadily, with innovative businesses showing higher growth rates and market share, new momentum continues to grow, while capital expenditure as a percentage of revenue is decreasing, which is conducive to profit release.

China Shenhua (01088) received a net buy of HKD 110 million. On the news front, Guohai Securities stated that the procedures for mining are complex, the construction and production cycles are long, the cost of building new mines has risen significantly, and the willingness of mainstream coal enterprises to build new mines remains weak. The industry has basically reached a high load state in terms of production capacity, and the ability of the industry to be constrained by the continuous exit of exhausted mines in eastern regions and other areas has not changed. It is expected that in the coming years, the coal industry will still maintain a tight balance, with high asset quality, abundant cash flow on the books, and listed coal companies showing high profitability, high cash flow, high barriers to entry, high dividends, and high safety margins. It is recommended to grasp the value attributes of the coal sector.

Meituan-W (03690) received a net buy of HKD 110 million. On the news front, Meituan is currently planning to recruit elevator media advertising partners (video elevator media) in lower-tier cities. Focus Media stated that the company and Meituan are jointly promoting the operation of elevator video media in lower-tier cities. In addition, the strategic cooperation between Kuaishou and Meituan has recently expired and been renewed, with the cooperation between the two parties set to be fully upgraded. According to the agreement, the scope of cooperation between Kuaishou and Meituan will expand to "hundreds of cities and thousands of stores" nationwide in the next three years.

Kingsway Group (01548) rose more than 30% intraday today, with some northbound funds selling on highs, resulting in a net sell of HKD 64.68 million for the whole day. On the news front, there are market rumors that Kingsway Group's subsidiary, Legend Biotech, recently received a takeover offer. According to industry speculation, based on a premium of 30%-50%, the acquisition price for this transaction may be between USD 13 billion and USD 15 billion. Kingsway Group responded that the company currently has no relevant response. Legend Biotech also stated that there is currently no more information available and they are unable to respond at this time.

In addition, Tencent (00700) received a net buy of HKD 73.79 million. Meanwhile, CNOOC (00883) faced a net sell of HKD 126 million