Northbound funds | Northern Water had a net selling of 5.43 billion yuan, and domestic investors once again increased their positions in technology stocks, selling more than 8.5 billion Hong Kong dollars of the TRACKER FUND OF HONG KONG (02800).

In the Hong Kong stock market on October 15, Beishui had a net sell of 5.443 billion Hong Kong dollars. Among them, the Hong Kong stock connect (Shanghai) had a net sell of 6.31 billion Hong Kong dollars, and the Hong Kong stock connect (Shenzhen) had a net buy of 0.866 billion Hong Kong dollars. The stocks with the highest net buy from Beishui were BABA-W (09988), HUA HONG SEMI (01347), and XIAOMI-W (01810). The stocks with the highest net sell from Beishui were TRACKER FUND OF HONG KONG (02800), Hang Seng H-Share Index ETF (02828), and Semiconductor Manufacturing International Corporation (00981). Active traded stocks in the Hong Kong stock connect (Shanghai) were: BABA-W (09988) with a net buy of 8.57 billion Hong Kong dollars. In terms of news, the Tmall Double 11 officially started at 8 pm tonight. In addition to an official discount of 15% off on Tmall this year, there are also additional discounts such as 10% off consumption vouchers, category coupons, and shopping credits. In addition, Goldman Sachs recently raised its future capital expenditure forecast for Alibaba to 460 billion yuan over the next 3 years, the highest forecast in the market. The bank pointed out that with the breakthrough in AI models and diversified chip supply, Goldman Sachs raised Alibaba's cloud revenue growth rate in the next three quarters to 31%, 38%, and 37%. The chip sector continued to differentiate, with HUA HONG SEMI (01347) receiving a net buy of 4.45 billion Hong Kong dollars, while Semiconductor Manufacturing International Corporation (00981) suffered a net sell of 6.42 billion Hong Kong dollars. In terms of news, Nuvalee, a subsidiary of New Kailai, released two domestically designed electronic engineering EDA (schematic and PCB) design software to the industry for the first time. Soochow believes that the overseas controls on semiconductors favor the increase in market share of domestic semiconductor equipment, and the localization rate of core equipment in domestic wafer fabs such as lithography, etching, and thin film deposition is expected to increase rapidly; In addition, the continued rise in storage prices, proactive expansion of domestic advanced processes, and the development of domestic computing power all bring opportunities for investment in the manufacturing sector. XIAOMI-W (01810) received a net buy of 2.96 billion Hong Kong dollars. In terms of news, Xiaomi's official Weibo account announced that the 2025 Double 11 promotion officially kicked off on that day. This promotion offered discounts of 2 billion yuan. In addition, China International Capital Corporation released a research report stating that the third model of Xiaomi's cars is a large six-seat SUV, expected to be priced between 200,000 and 300,000 yuan, believed to be another popular product next year. Tencent (00700) received a net buy of 2.5 billion Hong Kong dollars. In terms of news, Citigroup released a report stating that Tencent is expected to release its third-quarter earnings on November 13, with expectations for continued strong performance, total revenue and profit exceeding expectations, and strong growth potential in the gaming business, mainly benefiting from the strong momentum of "Delta Force" and "Peace Elite", the recovery of "King Honor", and the steady rebound of "Dungeons and Warriors" and "Golden Shovel Fight". In addition, Citigroup expects Tencent's marketing service revenue to maintain its momentum from the first half of the year, with a year-on-year growth of about 20%. POP MART (09992) received a net buy of 2.04 billion Hong Kong dollars. In terms of news, in the afternoon of October 13, Apple CEO Tim Cook appeared at the Shanghai THE MONSTERS tenth anniversary tour exhibition, which is Cook's first stop in China. CMSC (Hong Kong) previously released a research report stating that with continued improvement in brand strength, gradual expansion of omni-channel models, and continuous expansion of IP monetization paths, POP MART is expected to become a world-class cultural IP brand. It reiterated a strong buy rating, bullish on the company's strong performance guidance in the second half of the year under accelerated global expansion. Shandong Gold Mining (01787) received a net buy of 80.7 million Hong Kong dollars. In terms of news, Shandong Gold Mining announced that it is expected to have a net profit of 3.8 billion to 4.1 billion yuan in the first three quarters, an increase of 83.9% to 98.5% year-on-year. It is worth noting that Shandong Gold Mining had a net profit of 1.03 billion yuan in the first quarter and a net profit of 1.782 billion yuan in the second quarter. In addition, Guojin Futures recently released a research report warning of potential retracement risks after a sharp short-term price increase. ETFs in the Hong Kong stock market showed differentiation again, with CSOP Hang Seng TECH Index ETF (03033) receiving a net buy of 1.45 billion Hong Kong dollars, while Hang Seng H-Share Index ETF (02828) and TRACKER FUND OF HONG KONG (02800) saw net sells of 3.338 billion and 8.575 billion Hong Kong dollars, respectively. In terms of news, China Galaxy Securities believes that in the short term, the escalation of Sino-US trade friction has led to a decrease in investor risk appetite, driving a valuation correction in the Hong Kong stock market. However, with the support of stable growth policies domestically, and the impact of measures to stabilize the stock market with medium and long-term funds, investor sentiment is expected to gradually stabilize. Currently, the overall valuation of Hong Kong stocks is at a historically high level, and it is expected that the Hong Kong stock market will experience wide fluctuations in the future. In addition, Zhejiang Sanhua Intelligent Controls (02050) and LAOPU GOLD (06181) received net buys of 1.63 billion and 9.54 million Hong Kong dollars, respectively.