Northbound funds | Northbound trading net buying amounted to 2.249 billion, AI concept stocks are currently diverging. Northbound investors increased their holdings of XUNCE (03317) while selling Tencent (00700).

On April 13th, in the Hong Kong stock market, the net purchase of Beishui reached 2.249 billion Hong Kong dollars. Among them, the net purchase of Hong Kong Stock Connect (Shanghai) was 4.266 billion Hong Kong dollars, and the net selling of Hong Kong Stock Connect (Shenzhen) was 2.017 billion Hong Kong dollars. The stocks with the most net purchases by Beishui were XIAOMI-W (01810), CNOOC (00883), and Semiconductor Manufacturing International Corporation (00981). The stocks with the most net sales by Beishui were Tencent (00700), YOFC (06869), and BABA-W (09988). Active trading stocks in Hong Kong Stock Connect (Shanghai): Active trading stocks in Hong Kong Stock Connect (Shenzhen): XIAOMI-W (01810) received a net purchase of 272 million Hong Kong dollars. On the news front, Xiaomi Group announced that it will increase the suggested retail price of some of its models of smartphones, effective from April 11th. Xiaomi Group's CEO Lu Weibing previously stated that the increase in memory prices this time has indeed far exceeded expectations, with the price of the same version of memory soaring nearly 4 times compared to last year's Q1. CNOOC (00883) received a net purchase of 218 million Hong Kong dollars. On the news front, the peace talks between the US and Iran over the weekend were unsuccessful, leading US President Trump to announce the blockade of the Strait of Hormuz. Morgan Stanley maintained its Brent crude oil price forecast, predicting $110 per barrel in the second quarter of 2026, $100 per barrel in the third quarter of 2026, and then stabilizing at around $80 per barrel in 2027. Semiconductor Manufacturing International Corporation (00981) and XUNCE (03317) received net purchases of 106 million and 81.86 million Hong Kong dollars, respectively. On the news front, Morgan Stanley released a research report indicating that the market may be underestimating the explosive power and depth of the AI revolution. Top large language models are experiencing "non-linear leaps in capabilities", but explosive growth in AI is encountering systemic supply bottlenecks, global computing power and electricity demand gaps, which will face long-term and sustained expansion. GUOTAI JUNAN I (01788) suffered a net sale of 68.58 million Hong Kong dollars. On the news front, HSBC and Standard Chartered Bank obtained stablecoin licenses in Hong Kong. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, wrote that for institutions that did not receive the initial license, or institutions that may apply in the future, the HKMA will maintain communication and review the applications. The authority holds an open and cautious attitude towards future issuance of licenses and timing, and there is no clear tendency at this stage. However, he emphasized that the threshold for obtaining a license is quite high, and even if more licenses are issued in the future, the overall number of licenses will be "very limited". YOFC (06869) suffered a net sale of 207 million Hong Kong dollars. On the news front, there were market rumors that the recent pullback in the fiber optics sector was mainly due to the delay in operator joint procurement, which may affect relevant companies' revenue. According to China Securities Journal, when reporters called Yangtze Optical Fibre And Cable Joint Stock, the company stated that the joint procurement news has not been officially announced, so there is no delay. Official procurement information should be based on official announcements. Tencent (00700) suffered a net sale of 1.688 billion Hong Kong dollars. On the news front, Daiwa Securities released a research report, lowering its forecast for Tencent's local game revenue in the first quarter to reflect a shortened revenue recognition window due to the late Chinese New Year in 2026, along with a high base in the same period last year. However, SensorTower data shows that local game revenue has grown by about 12% per quarter, with the impact of timing fading and new game contributions, gaming revenue is expected to accelerate again in the second quarter. In addition, MEITUAN-W (03690) received a net purchase of 60 million Hong Kong dollars, while BABA-W (09988) and Shandong Molong Petroleum Machinery (00568) suffered net sales of 117 million and 10.49 million Hong Kong dollars respectively.