Northbound funds | Northbound trading had a net buying of 8.325 billion yuan, and the independent and controllable semiconductor industry continued to accelerate. Domestic funds aggressively bought Semiconductor Manufacturing International Corporation (00981) with nearly 1.7 billion Hong Kong dollars.

On January 17, in the Hong Kong stock market, the net purchase of Northbound funds was 8.325 billion Hong Kong dollars, with 5.124 billion Hong Kong dollars bought through the Shanghai-Hong Kong Stock Connect and 3.201 billion Hong Kong dollars bought through the Shenzhen-Hong Kong Stock Connect. The top stocks with the most net purchases by Northbound funds were Semiconductor Manufacturing International Corporation (00981), Tencent (00700), and TRACKER FUND OF HONG KONG (02800). The top stocks with the most net sales by Northbound funds were China Mobile Limited (00941), BABA-W (09988), and HUA HONG SEMI (01347). In terms of active trading stocks through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, Semiconductor Manufacturing International Corporation (00981) received a net purchase of 1.672 billion Hong Kong dollars, while HUA HONG SEMI (01347) experienced a net sale of 19.64 million Hong Kong dollars. In other news, the Ministry of Commerce spokesperson stated on the 16th that concerning the chip industry, domestically produced mature-process chips imported from the US are impacting the domestic market due to their low prices. The investigative authorities will lawfully commence an investigation. Tianfeng pointed out the significance of observing changes in US semiconductor policy before and after the US presidential elections, emphasizing the trend towards independent and controllable semiconductors. They recommend focusing on Semiconductor Manufacturing International Corporation. Tencent (00700) saw a net purchase of 832 million Hong Kong dollars. According to a research report by Zhongjin Futures, Tencent's AR/VR game business prospects remain strong, and the increase in stock repurchases shows confidence in the future. The company has been focusing on shareholder returns while continuously achieving high-quality earnings growth. They maintain an "outperform" rating with a target price of 468 Hong Kong dollars, corresponding to forecasted P/E ratios of around 16 and 14 times for the coming two years. Based on operational leverage, Zhongjin Futures expect Tencent's operating profit according to non-international financial reporting standards in the fourth quarter of last year to grow by 20% YoY and non-international financial reporting standard net profit to grow by 29% YoY, far exceeding revenue growth. TRACKER FUND OF HONG KONG (02800) received a net purchase of 482 million Hong Kong dollars. Industrial Securities highlighted that after the latter part of January, the suppression of the Chinese stock market from overseas factors is expected to turn around. With Trump's inauguration, the short-term impact of the rise in US bond yields and strengthening of the US dollar will come to an end as negative factors dissipate, and conversely, loosening of Chinese policies could strengthen, raising the attractiveness of Chinese asset allocation. Additionally, the "annual report season" is approaching, focusing on fundamental changes and the opportunities brought about by increased dividend ratios. CCB (00939) received a net purchase of 457 million Hong Kong dollars. According to CITIC Securities, the latest statement from the People's Bank of China shows positivity towards actively supporting high-quality economic development through financial policies. However, the introduction of expansionary monetary policy is still subject to the People's Bank of China's discretion based on the domestic economic situation, exchange rate trends, bond market trends, etc. Currently, the People's Bank of China highly values the stability of bank operations and interest rate pressure, with the pricing equilibrium of bank assets and liabilities being one of the key considerations for future relevant policies. MEITUAN-W (03690) received a net purchase of 167 million Hong Kong dollars. According to a report by Citigroup, after Keeta, a subsidiary of Meituan, entered cities like Riyadh in September and October of last year, they expanded to Jeddah and Mecca in Saudi Arabia on January 1 and 6 this year. Given their expansion rate, the bank believes this may indicate that their performance in Riyadh has met or exceeded expectations. Additionally, Meituan is preparing to expand their Xiaoxiang Supermarket business overseas, with Saudi Arabia being their first target market. WEIMOB INC (02013) received a net purchase of 97.36 million Hong Kong dollars. WeChat recently upgraded its "send gifts" feature, with the function now embedded in the chat box alongside red packets, allowing users to write personalized messages and carefully choose desired gifts. On January 9th, WEIMOB INC announced the launch of the "Weimeng X WeChat Mini Store" five major solutions. Weimeng expressed that these five solutions, through integrated operations, smart efficiency improvements, organizational node management, and WeChat Mini Store CRM member operation system, will comprehensively enhance businesses' operational efficiency and business capabilities for growth under the WeChat Mini Store ecosystem. Furthermore, XIAOMI-W (01810) and CNOOC (00883) received net purchases of 105 million and 33.43 million Hong Kong dollars, respectively. Whereas China Mobile Limited (00941), BABA-W (09988), and ZTE Corporation (00763) experienced net sales of 234 million, 89.93 million, and 16.85 million Hong Kong dollars, respectively.