Northbound funds | Northbound trading saw a net purchase of 4.89 billion, with domestic investors increasing holdings of chip stocks while selling internet stocks. They also increased positions in CNOOC (00883) by more than 4 billion Hong Kong dollars.

On April 22, in the Hong Kong stock market, Northbound trading saw a net purchase of 4.89 billion Hong Kong dollars. Among them, the net purchase of Hong Kong Stock Connect (Shanghai) was 4.252 billion Hong Kong dollars, and the net purchase of Hong Kong Stock Connect (Shenzhen) was 638 million Hong Kong dollars. The stocks that saw the highest net purchases by Northbound investors were CNOOC (00883), GEELY AUTO (00175), and POP MART (09992). The stocks that saw the highest net sales by Northbound investors were BABA-W (09988), Tencent (00700), and YOFC (06869). Active trading stocks in Hong Kong Stock Connect (Shanghai) Active trading stocks in Hong Kong Stock Connect (Shenzhen) CNOOC (00883) saw a net purchase of 475 million Hong Kong dollars. On the news front, the CEO of Vitol, the world's largest independent oil trader, warned on Tuesday that even if the Middle East war were to end tomorrow, the oil market would still lose at least 1 billion barrels of crude oil and refined oil supply. Citigroup also stated that if the disruption of shipping in the Strait of Hormuz were to continue for another month, oil prices could rise to $110 per barrel. GEELY AUTO (00175) saw a net purchase of 332 million Hong Kong dollars. Recently, GEELY AUTO officially launched its new high-performance flagship SUV, the Jixi 8X, which includes three versions: Max, Ultra, and Ultra+. CMSC International believes that within 29 minutes of the official launch of Jixi 8X, the number of orders quickly reached tens of thousands, with an average order price exceeding 400,000 RMB, making it a standout product in the new energy market. POP MART (09992) saw a net purchase of 331 million Hong Kong dollars. POP MART is set to officially launch its first batch of small home appliance product lines in April, including refrigerators, electric kettles, coffee machines, hair dryers, etc. Guosen stated that the launch of IP small home appliances is expected to open up high-frequency daily scenarios for the company's top IP, extending the value of the IP from "collectible display" to "daily companionship," and also broadening the audience for the POP MART brand. Northbound investors increased their holdings in semiconductor stocks, with HUA HONG SEMI (01347) and Semiconductor Manufacturing International Corporation (00981) seeing net purchases of 255 million and 171 million Hong Kong dollars, respectively. According to reports, the wafer foundry factory UMC recently issued a price increase notice to customers, announcing a 10% wafer price adjustment in the second half of 2026. Previously, Nexchip Semiconductor Corporation, a major wafer foundry factory, had issued a "announcement of price adjustment for wafer foundry services products" to customers on March 12, stating that wafer prices would increase by 10% from June. Cig Shanghai (06166) saw a net purchase of 228 million Hong Kong dollars. Cig Shanghai stated on its interactive platform that the company's high-speed optical module business, with silicon photonics technology as its core, has achieved mass shipments of 800G to overseas core customers and small-scale shipments of 1.6T. Huaxin Securities previously pointed out that the demand for 800G and 1.6T optical modules is strong, and the company is continuously expanding production. The capacity of factories in Jiaxing and Malaysia is gradually being released, and the construction of production capacity in Mexico is being promoted. In 2026, the company expects 800G optical modules to remain the main shipment, and 1.6T optical modules will achieve a large shipment in the first quarter and continue to increase. AKESO (09926) saw a net purchase of 42.12 million Hong Kong dollars. On April 22, the official website of the Drug Clinical Trial Registration and Information Disclosure Platform showed that AKESO registered a Phase I clinical study to evaluate the safety, tolerability, pharmacokinetics, and preliminary antitumor activity of AK150 in the treatment of advanced malignant solid tumors. According to public information, this is the first clinical trial initiated by AK150. Northbound investors sold technology stocks, with Tencent (00700) and BABA-W (09988) seeing net sales of 10.28 billion and 10.61 billion Hong Kong dollars, respectively. EB SECURITIES International strategist Wu Lixian told First Financial that the performance of Hong Kong stocks is weak, with large technology stocks underperforming. When the fourth quarter and full-year results of 2025 were announced, the performance of some technology stocks was not ideal, and there were still concerns about the first-quarter performance. The development of the situation in the Middle East changes daily, and the market may not necessarily follow the different daily news. The volatility of technology stocks and the overall market has narrowed, reflecting a strong market wait-and-see attitude. In addition, XIAOMI-W (01810) and XUNCE (03317) saw net purchases of 28.27 million and 24.11 million Hong Kong dollars, respectively. YOFC (06869) saw a net sale of 666 million Hong Kong dollars.