Northbound funds | Northbound trading net bought 3.46 billion yuan, CNOOC (00883) announced first-quarter performance after hours, Northbound trading aggressively bought over 700 million Hong Kong dollars prior to performance announcement.

On April 28th, the net purchase of Northbound funds in the Hong Kong stock market was 3.46 billion Hong Kong dollars. Among them, the net purchase of Hong Kong Stock Connect (Shanghai) was 4.169 billion Hong Kong dollars, while the net selling of Hong Kong Stock Connect (Shenzhen) was 0.709 billion Hong Kong dollars. The stocks with the most net purchases by Northbound funds were CNOOC (00883), China Mobile Limited (00941), and YOFC (06869). The stocks with the most net sales by Northbound funds were TRACKER FUND OF HONG KONG (02800), Semiconductor Manufacturing International Corporation (00981), and BABA-W (09988). Active trading stocks in the Hong Kong Stock Connect (Shanghai) included CNOOC (00883) with a net purchase of 711 million Hong Kong dollars. According to reports, CNOOC released its earnings after hours, with first-quarter revenue of 116.08 billion yuan, a year-on-year increase of 8.6%, and net profit of 39.14 billion yuan, a year-on-year increase of 7.1%. China Mobile Limited (00941) had a net purchase of 546 million Hong Kong dollars. HSBC released a research report stating that the increase in value-added tax led to a general decline in telecom stock service revenue and net profit, but China Mobile showed resilience compared to its peers. YOFC (06869) had a net purchase of 263 million Hong Kong dollars. According to CRU's data, the price of G652.D bare fiber reached 83.40 yuan/core kilometer in March 2026, a year-on-year increase of 418%. Northbound funds continued to sell technology and internet stocks. Tencent (00700) and BABA-W (09988) were sold for 132 million and 175 million Hong Kong dollars respectively. HUA HONG SEMI (00981) and Semiconductor Manufacturing International Corporation (00981) were sold for 137 million and 471 million Hong Kong dollars respectively. The US recently proposed the MATCH Act, aiming to further tighten export controls on semiconductor hardware equipment to China. TRACKER FUND OF HONG KONG (02800) was sold for 1.432 billion Hong Kong dollars. Soochow pointed out that current US stock positions almost do not reflect the impact of geopolitical conflicts on fundamentals. Additionally, Shandong Molong Petroleum Machinery (00568) had a net purchase of 36.28 million Hong Kong dollars.