The Zhitong Finance App learned that in the Hong Kong stock market on October 22, Beishui traded net sales of HK$9.218 billion. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$3,225 billion and Hong Kong Stock Connect (Shenzhen) had net sales of HK$5.993 billion.
The individual stocks that Beishui Net bought the most were Tencent (00700), Weilu Technology Co., Ltd. (01196), and Southern Hang Seng Technology (03033). The individual stocks sold the most by Beishui Net were Alibaba-W (09988), SMIC (00981), and Huahong Hongli (01347).
Hong Kong Stock Connect (Shanghai) active trading stocks
Hong Kong Stock Connect (Shenzhen) active trading stocks
Tencent (00700) and Southern Hang Seng Technology (03033) received net purchases of HK$489 million and HK$192 million respectively, while Alibaba-W (09988) had a net sale of HK$1,676 million. Shen Wan Hongyuan released a research report saying that the recent trend of Hang Seng Technology and US software stocks is largely divided, or is related to valuation constraints caused by rising interest rates on US bonds and differences in profit expectations between the technology sector between the two places. In the future, if the molecular side dominates, US software stocks may return to Hang Seng Technology; if the denominator side dominates, Hang Seng Technology is expected to move closer to US software stocks as interest rate restrictions ease.
Jiantao laminated board (01888) and Changfei optical fiber cable (06869) were net sold at HK$189 million and HK$382 million respectively. Meta raised its capital expenditure forecast for the full year of 2026 to $135 billion to $145 billion; Tesla lowered its capital expenditure target for the full year 2026, from over $25 billion to about $20 billion, a drop of about 20%. Fangzheng Securities previously pointed out that the continued expansion of cloud companies' capital investment is an important support for the current round of the AI hardware market, but the increase in investment scale is not always in sync with the rise in stock prices. Whether the market expectation that the cloud factory capital expenditure growth rate is peaking in this round is true may have great guiding significance for the sustainability of the AI hardware stock market in the future.
Huahong Hongli (01347) and SMIC (00981) were net sold at HK$423 million and HK$910 million. Lyon said earlier that, driven by demand for AI-related chips, the return of overseas orders, and localized manufacturing, the capacity utilization rate remains high, and the average sales price continues to rise quarterly, but investment in additional production capacity and depreciation of advanced manufacturing processes will limit profit margin improvements. Goldman Sachs said that in order to reflect the integration of Huahong Hongli's Huali Microelectronics, the net profit for the 2026-2027 fiscal year will be cut by 5% and 2%, and raised by 3% in 2028.
In addition, Realord Technology shares (01196) received a net purchase of HK$251 million. Meanwhile, CNOOC (00883) had a net sale of HK$227 million.