Northbound funds | Northbound trading saw a net purchase of 15.751 billion yuan, with Northbound investors continuing to aggressively buy Hong Kong ETFs and increase holdings in Tracker Fund of Hong Kong (02800) by over 6 billion HKD.

On June 24, the Hong Kong stock market saw net purchases of 15.751 billion Hong Kong dollars by Northbound investors. Among them, the Shanghai-Hong Kong Stock Connect saw net purchases of 13.256 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect saw net purchases of 2.495 billion Hong Kong dollars. The top three stocks with the highest net purchases by Northbound investors were TRACKER FUND OF HONG KONG (02800), KINGBOARD HLDG (00148), and KB LAMINATES (01888). The top two stocks with the highest net sales by Northbound investors were BABA-W (09988) and Hua Hong Grace Semiconductor (01347). The most actively traded stocks through the Shanghai-Hong Kong Stock Connect were TRACKER FUND OF HONG KONG (02800) and CSOP Hang Seng TECH Index ETF (03033) with net purchases of 6.174 billion and 638 million Hong Kong dollars, respectively. KINGBOARD HLDG (00148) and KB LAMINATES (01888) saw net purchases of 2.816 billion and 2.062 billion Hong Kong dollars, respectively. Upstream raw material price hikes in electronic cloth and electronic resin have led to price increases in copper-clad laminate, with smooth industry chain transmission. YOFC (06869) received net purchases of 917 million Hong Kong dollars. YOFC announced that there is a high level of attention on the recent price fluctuations of optical fiber cables used in artificial intelligence data centers. With the rapid construction of computing power infrastructure domestically and internationally, the global optical fiber cable industry is in an upward cycle, but there is uncertainty in the price fluctuations of some products affecting the company's performance. Semiconductor Manufacturing International Corporation (00981) received net purchases of 767 million Hong Kong dollars, while Hua Hong Grace Semiconductor (01347) suffered net sales of 686 million Hong Kong dollars. TSMC has announced price increases on wafer foundry services, affecting about 75% of its wafer revenue sources. GigaDevice Semiconductor Inc. (03986) received net purchases of 497 million Hong Kong dollars. Kinexia is gradually phasing out its traditional NAND product portfolio, with Micron shifting its capacity allocation towards high-value 3DNAND products. Tencent (00700) saw net purchases of 323 million Hong Kong dollars. Enterprise WeChat is about to launch an AI agent called "Dayuan", which is currently in the testing phase. The introduction of the internal AI assistant "Xiaowei" did not boost stock prices. Goldman Sachs believes that valuation restoration depends on the effectiveness of the AI narrative perception. In addition, KNOWLEDGE ATLAS (02513) received net purchases of 51.53 million Hong Kong dollars, while BABA-W (09988) saw net sales of 948 million Hong Kong dollars.