Northbound Capital Trends | Northbound capital net sold HKD 1.518 billion, with over HKD 3.2 billion in Alibaba sold throughout the day
On July 24th, in the Hong Kong stock market, northbound capital had a net sell of HKD 1.518 billion. Among them, the Shanghai-Hong Kong Stock Connect had a net sell of HKD 551 million, and the Shenzhen-Hong Kong Stock Connect had a net sell of HKD 967 million. Northbound capital mainly net bought Hua Hong Grace, SMIC, and Z.AI; and mainly net sold Alibaba, KB LAMINATES, and Tencent. In addition, Taiwan Semiconductor has initiated price negotiations, GIGADEVICE plans to increase capital to promote the DRAM project and forecasts a significant increase in performance, and Goldman Sachs maintains its Brent oil price forecast but warns of upward risks
According to Zhitong Finance APP, on July 24th in the Hong Kong stock market, northbound capital recorded a net sell of HKD 1.518 billion. Among them, the Shanghai-Hong Kong Stock Connect had a net sell of HKD 551 million, while the Shenzhen-Hong Kong Stock Connect had a net sell of HKD 967 million.
The stocks with the highest net purchases from northbound capital were Hua Hong Grace (01347), SMIC (00981), and Z.AI (02513). The stocks with the highest net sells were Alibaba-W (09988), KB LAMINATES (01888), and Tencent (00700).
Active trading stocks in the Shanghai-Hong Kong Stock Connect
Active trading stocks in the Shenzhen-Hong Kong Stock Connect
Hua Hong Grace (01347) and SMIC (00981) received net purchases of HKD 378 million and HKD 320 million, respectively. It was reported that Taiwan Semiconductor began price negotiations with customers in June and completed the basic price adjustment plan in July, with an increase range of 5% to 10%, varying by customer and product type. The new pricing will officially take effect in early 2027, covering advanced and mature process semiconductors.
Z.AI (02513) received a net purchase of HKD 239 million. Morgan Stanley stated that Z.AI's current GLM-5.2 model remains among the top frontier models in China, and the GLM-5.3 and the new 2T+ flagship model are expected to be released in the coming months. The firm believes that Z.AI has the capability to maintain its domestic leadership in the next model cycle, thereby supporting continuous expansion of ARR in the current market environment with limited computing power.
GIGADEVICE (03986) received a net purchase of HKD 172 million. GIGADEVICE announced plans to invest HKD 500 million to increase its wholly-owned subsidiary Zhuhai Hengqin Chip Storage Semiconductor Co., Ltd., to promote the implementation of DRAM-related fundraising projects. In the first half of this year, GIGADEVICE expects to achieve a net profit attributable to shareholders of approximately HKD 6.9 billion, a year-on-year increase of approximately 1099%.
CNOOC (00883) faced a net sell of HKD 321 million. Goldman Sachs released a research report stating that assuming geopolitical tensions ease in the fourth quarter of this year, it maintains its forecast for Brent crude oil prices at USD 80 per barrel for the fourth quarter, but emphasizes that there are new upside price risks recently. Looking ahead to 2027, assuming the strait remains open, the firm expects the average prices of Brent and WTI crude oil to be USD 75 and USD 70, respectively, and maintains its forecast of a daily supply surplus of 3.2 million barrels for 2027 K.B. LAMINATES (01888) experienced a net sell-off of HKD 692 million. According to data from the Hong Kong Stock Exchange, on July 20, Zhang Jiahao reduced his holdings in K.B. LAMINATES by 1 million shares, totaling approximately HKD 42.1 million. Previously, on June 30, Zhang Guohua reduced his holdings in K.B. LAMINATES by 300,000 shares, totaling HKD 29.5773 million; on June 26, three directors of K.B. LAMINATES simultaneously reduced their shares in the company, involving approximately HKD 89.8451 million. It is noteworthy that the controlling shareholder, K.B. Group, has made two large-scale reductions in K.B. LAMINATES this year, cashing out a total of approximately HKD 14.5 billion.
Alibaba-W (09988) faced a net sell-off of HKD 3.207 billion. On July 20, the European Commission announced a fine of EUR 550 million (approximately RMB 4.25 billion) against Alibaba's cross-border e-commerce platform AliExpress under the EU Digital Services Act (DSA), setting the record for the highest penalty since the DSA came into effect. It is noteworthy that the stock price performance of Google and Tesla after their latest earnings reports demonstrates that AI trading has shifted from the "story-driven" phase to the "cash flow validation" phase.
In addition, Lanqi Technology (06809) saw a net purchase of HKD 13.97 million, while Changfei Optical Fiber and Cable (06869) and Tencent (00700) experienced net sell-offs of HKD 167 million and HKD 496 million, respectively
