Northbound funds | Northbound trading net purchases amounted to 2.23 billion, Tencent (00700) achieved its largest single-day increase in nearly four years. Northbound trading sold more than 2.1 billion Hong Kong dollars at highs.

On June 2nd, in the Hong Kong stock market, the net buying amount of Bei shui (Northbound funds) was 2.223 billion Hong Kong dollars. Among them, the net buying amount through the Shanghai-Hong Kong Stock Connect was 2.018 billion Hong Kong dollars, and the net buying amount through the Shenzhen-Hong Kong Stock Connect was 0.206 billion Hong Kong dollars. The stocks with the most net buying by Bei shui were Semiconductor Manufacturing International Corporation (00981), CNOOC (00883), and AKESO (09926). The stocks with the most net selling by Bei shui were Tencent (00700), YOFC (06869), and HUA HONG SEMI (01347). Active trading stocks in the Shanghai-Hong Kong Stock Connect Active trading stocks in the Shenzhen-Hong Kong Stock Connect In terms of the news, semiconductor stocks continued to differentiate, with Semiconductor Manufacturing International Corporation (00981) receiving a net buying of 0.95 billion Hong Kong dollars, while HUA HONG SEMI (01347) received a net selling of 2.17 billion Hong Kong dollars. Analysts believe that the reduction of holdings by the state-owned fund is a routine market-oriented exit behavior. However, some industry institutions believe that after the continuous rise, the trading congestion of the A-share semiconductor sector has reached historical highs, posing risks of technical corrections or volatility in the short term. CNOOC (00883) received a net buying of 0.383 billion Hong Kong dollars. In terms of news, Iran said on Monday that due to Israel's ongoing military actions in Lebanon, Iran's negotiation team has suspended talks with the United States through intermediaries. Iran and the "resistance front" plan to completely block the Strait of Hormuz and open operations on other "fronts" such as the Strait of Mandeb. In addition, HSBC pointed out that commodities are currently in a "super squeeze" state, and if the Strait of Hormuz continues to be effectively closed, the situation will worsen. AKESO (09926) received a net buying of 0.344 billion Hong Kong dollars. In terms of news, at the ASCO 2026 Annual Meeting, AKESO presented the overall survival analysis of the HARMONi-6 study at the Plenary Session, marking the first time a Chinese original oncology innovation drug has been selected for the Plenary Session in the 61-year history of ASCO. Citigroup stated that due to the strong HARMONi-6 data, the success probability of the 1L sqNSCLC indication in China has been raised from 90% to 95%, and the global market success probability has been raised from 60% to 65%. It also raised the potential market share assumption for ivonescimab in China. BABA-W (09988) received a net buying of 31.99 million Hong Kong dollars. Alibaba Cloud's Tongyi Qianwen team officially announced the release of Qwen3.7-Plus on the X platform. This is a multimodal Agent model that unifies vision and language into an integrated intelligent base. Qwen3.7-Plus integrates visual perception with code generation, tool invocation, and GUI control, supporting closed-loop execution of complex tasks within a single intelligent agent cycle. Tencent (00700) surged by more than 10% today, marking the largest increase since November 2022. Some funds from Bei shui sold at high levels, with a net selling of 2.109 billion Hong Kong dollars throughout the day. In terms of news, it was reported that Tencent is close to launching a WeChat AI assistant. According to two sources familiar with the matter, Tencent is testing the prototype of the assistant, which can help users complete various tasks within the app. Tencent plans to start the official release process as early as this month. Guosheng previously released a research report stating that in terms of WeChat AI, Tencent's ecosystem has differentiated advantages, and is steadily progressing in converting a rich array of mini programs into Skills that can be called by agents. In addition, YOFC (06869) experienced a net selling of 0.242 billion Hong Kong dollars.