Northbound funds | Northbound trading volume net purchases 3.448 billion, CNOOC (00883) receives additional holdings of 1 billion Hong Kong dollars, Tencent (00700) opens high but faces selling pressure.

On March 11th, the Hong Kong stock market saw a net purchase of 3.448 billion Hong Kong dollars by Northbound investors. Among these, the Shanghai-Hong Kong Stock Connect had a net purchase of 1.582 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect had a net purchase of 1.867 billion Hong Kong dollars. The top three stocks with the highest net purchase by Northbound investors were CNOOC (00883), BABA-W (09988), and GEELY AUTO (00175). The top three stocks with the highest net sell by Northbound investors were Tencent (00700), China Construction Bank Corporation (00939), and Industrial and Commercial Bank of China (01398). Active trading stocks in the Shanghai-Hong Kong Stock Connect include CNOOC (00883), which saw a net purchase of 1.039 billion Hong Kong dollars. HAITONG INT'L published a research report stating that the recent increase in oil prices to $80/barrel mainly reflects geopolitical risks premium, rather than structural supply tightness. BABA-W (09988) saw a net purchase of 698 million Hong Kong dollars. Alibaba previously announced a full unification of its major B-side brands and C-side application brands under the name "Qianwen." GEELY AUTO (00175) saw a net purchase of 531 million Hong Kong dollars. The company announced the official date of the release for its strategic car model 8X's technology conference on March 16th, with high market anticipation. Other active trading stocks in the Shenzhen-Hong Kong Stock Connect include HUA HONG SEMI (01347) and Semiconductor Manufacturing International Corporation (00981), which saw net purchases of 155 million and 137 million Hong Kong dollars respectively. XUNCE (03317) saw a net purchase of 26.02 million Hong Kong dollars. The company has been focusing on the AI market for ten years, becoming a supplier of "feed" for AI in the era. YOFC (06869) saw a net sell of 1.2 billion Hong Kong dollars, driven by the demand for optical fibers. During this period, Northbound investors sold off stocks in the banking sector, particularly shares in Industrial and Commercial Bank of China (01398) and China Construction Bank Corporation (00939), which saw net sells of 185 million and 826 million Hong Kong dollars respectively. Tencent (00700) saw a significant net sell of 2.435 billion Hong Kong dollars. The company has recently been involved in the development of an "ultra-secret" AI project for WeChat. Additionally, XIAOMI-W (01810) and Shandong Molong Petroleum Machinery (00568) saw net purchases of 159 million and 5.14 million Hong Kong dollars respectively.