Northbound funds | Northbound trading saw a net buying of 5.472 billion yuan, with Northbound funds rushing to grab shares in the innovative pharmaceutical sector all day and continuing to sell chip stocks.

On November 3, the Hong Kong stock market saw a net purchase of 5.472 billion Hong Kong dollars by Northbound investors, with a net purchase of 1.304 billion Hong Kong dollars through the Shanghai-Hong Kong Stock Connect and a net purchase of 4.168 billion Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect. The top three stocks with the most net purchases by Northbound investors were XIAOMI-W (01810), CNOOC (00883), and China Mobile Limited (00941). The top three stocks with the most net sales were Semiconductor Manufacturing International Corporation (00981), Alibaba (09988), and Hua Hong Semiconductor (01347). XIAOMI-W (01810) received a net purchase of 1.029 billion Hong Kong dollars. According to reports from Citigroup, Xiaomi announced that its electric vehicle deliveries in October exceeded 40,000 vehicles. The bank estimated that Xiaomi may have delivered over 308,000 electric vehicles since the beginning of the year, achieving 88% of its 2025 target of 350,000 deliveries. With current delivery rates exceeding 10,000 vehicles per week, the annual shipment volume is expected to approach 400,000 vehicles. CNOOC (00883) received a net purchase of 993 million Hong Kong dollars. Following an online meeting, OPEC+ announced that led by Saudi Arabia, eight member countries will increase production by 137,000 barrels per day in December, the same rate as in October and November. However, the organization also stated that due to seasonal factors, production increases will be paused in January to March next year. AKESO (09926) received a net purchase of 372 million Hong Kong dollars. Recently, AKESO's self-developed global first dual-specific antibody drug for the treatment of triple-negative breast cancer has been included on the list of Breakthrough Therapy Designation (BTD) in China. Overall, Northbound investors continued to reduce their holdings in semiconductor stocks, with Semiconductor Manufacturing International Corporation (00981) and Hua Hong Semiconductor (01347) seeing net sales of 1.38 billion and 628 million Hong Kong dollars respectively. In addition, China Mobile Limited (00941) and POP MART (09922) received net purchases of 461 million and 52.96 million Hong Kong dollars respectively, while Tencent (00700) and Alibaba (09988) saw net sales of 151 million and 955 million Hong Kong dollars respectively.