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South Water continues to sell Moutai and invests nearly 500 million yuan in Luxshare Precision Industry, while North Water aggressively buys bank stocks.
Northward funds net sold A shares for 3.335 billion yuan, while southward funds net bought Hong Kong shares for 6.872 billion Hong Kong dollars.
Interpretation: Southbound funds increase positions in Bank of China, China Construction Bank Corporation, and CNOOC.
Today, southbound funds bought a net of HKD 6.872 billion worth of Hong Kong stocks. Among them, Bank of China bought a net of HKD 412 million, China Construction Bank bought a net of HKD 344 million, CNOOC bought a net of HKD 340 million, Meituan bought a net of HKD 338 million, Semiconductor Manufacturing International Corporation bought a net of HKD 184 million, Tencent bought a net of HKD 163 million, and Wuxi Bio bought a net of HKD 125 million. According to statistics, southbound funds have been buying China Mobile for 9 consecutive days, totaling HKD 7.49803 billion; buying Semiconductor Manufacturing International Corporation for 5 consecutive days, totaling HKD 810.27 million; buying CNOOC for 4 consecutive days, totaling HKD 1.58003 billion.
Banks stocks fall generally, Weihai Bank (09677) falls 3.75%, it's rumored that the mainland is planning to prohibit banks from selling privately placed products through third-party channels.
Jingu Finance News | Bank stocks fell across the board, Weihai Bank (09677) fell 3.75%, Postal Savings Bank of China (01658) fell 2.23%, Dongguan Rural Commercial Bank (09889) fell 2.05%, Bank of Communications (03328) fell 1.7%, China Construction Bank Corporation (00939) fell 1.62%. According to reports citing insiders, the China Banking and Insurance Regulatory Commission is seeking feedback on proposed changes to the rules that prohibit commercial banks from selling private equity funds in disguise. Banks have been the key distributors of private equity funds for many years, and investors use trust products sold through banks as a means to invest in these private equity funds.
Huachuang Securities: Hong Kong stocks dividends become the fortress of overseas asset allocation under low interest rates.
Recently, southbound funds have been buying high-dividend stocks such as banks in large quantities. Referring to the experience in Japan, institutional funds in the low-interest-rate asset shortage situation are highly likely to globally allocate assets, making Hong Kong stocks a springboard for offshore asset allocation.
Northbound investment trend: net buying of 3.668 billion yuan, domestic funds continue to increase their positions in China Mobile (00941); selling of China mainland banking stocks all day.
On June 6th, in the Hong Kong stock market, Northbound trading had a net buy of 3.668 billion Hong Kong dollars, of which the Shanghai-Hong Kong Stock Connect had a net buy of 2.147 billion Hong Kong dollars, and the Shenzhen-Hong Kong Stock Connect had a net buy of 1.521 billion Hong Kong dollars.
Notice of 2023 Annual General Meeting
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