The Zhitong Finance App learned that on June 28, the Hong Kong Stock Exchange had a net purchase of HK$3,662 billion, of which the Hong Kong Stock Connect (Shanghai) transaction made a net purchase of HK$1,427 billion, and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$2,235 billion.

The individual stocks that Beishui Net bought the most were China Mobile (00941), Industrial and Commercial Bank (01398), and China Construction Bank (00939). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), China Shenhua (01088), and CNOOC (00883).

Hong Kong Stock Connect (Shanghai) actively traded stocks

Hong Kong Stock Connect (Shenzhen) actively traded stocks

Beishui Capital raised telecom stocks throughout the day. China Mobile (00941), China Unicom (00762), and China Telecom (00728) received net purchases of HK$1,261 billion, $145 million, and HK$88.68 million respectively. According to the news, on June 26, the 2024 Shanghai Mobile World Congress kicked off, China Mobile and other major telecom operators announced their efforts to lay out industries such as the low-altitude economy in order to further tap 5G-A commercial potential and find new business growth points. Furthermore, Goldman Sachs analysts believe that China's dividend assets have not received sufficient attention; Goldman Sachs previously pointed out that the views of the three major Chinese telecommunications stocks continued to be positive in the second half of the year, and believed that the shares concerned were in line with the long-term value evaluation using the dividend discount model.

Beishui continues to pursue domestic bank stocks. ICBC (01398) and China Construction Bank (00939) received net purchases of HK$475 million and HK$473 million respectively. According to the news, J.P. Morgan Chase released a research report saying that seven banks have held shareholders' meetings in the past few days. Among them, China Merchants Bank, Industrial and Commercial Bank, and Minsheng Bank announced the minutes of the meetings. The bank believes that since the return on net interest is stabilizing and the quality of assets is stable, it has a positive interpretation of the entire industry. Morgan Stanley, on the other hand, said that its views on Chinese bank stocks are more optimistic, saying that global investors are too pessimistic about the impact of the downturn in the real estate market and economic weakness on banking profits.

Tencent (00700) received a net purchase of HK$10.59 million. Shen Wan Hongyuan said that combined with point-to-point data monitoring, the first month's turnover of DNF mobile games is expected to exceed 5 billion yuan, which is better than market expectations. Referring to the average monthly turnover of Hanbok in the first year, accounting for 42% of the first month's turnover, based on the calculation of 5 billion yuan in the first month of National Service sales, the first year of National Service sales reached 25.2 billion yuan. Furthermore, DNF Mobile Games has removed part of the Android app market, and the game profit margin ceiling is expected to rise.

CNOOC (00883) had a net sale of HK$25.56 million. According to the news, Citi published a report stating that oil prices have soared in the past three weeks, and oil has broken through the level of 86 US dollars per barrel. However, the bank believes that the current level of oil prices is too high. Under the influence of geopolitical concerns or supply and demand expectations, oil prices have greatly exceeded their intrinsic value. Looking ahead, the bank anticipates uncertain demand in major oil-consuming regions, and oil prices are at particular risk in the third quarter. However, geopolitical risk pressure continues, and renewed tension between Russia, Ukraine and the Middle East provides a possibility for oil prices to rise.

China's Shenhua (01088) had a net sale of HK$108 million. According to the news, HSBC said earlier that production in Shanxi is expected to gradually recover, as production reduction targets for the whole year have been reached. The province's production last month increased 8% month-on-month, but fell 7% year-on-year. The bank expects China's local coal production to recover in the second half of the year compared to the first half of the year, but it will continue to decline year by year throughout the year. The bank raised its profit forecast for Shenhua this year by 1%, and the target price of Shenhua H shares was raised from 31 yuan to 35 yuan, maintaining a “holding” rating. The bank pointed out that short-term pressure on coal spot prices limits the room for stock prices to rise.

Yingfu Fund (02800) had a net sale of HK$569 million. According to the news, Xing Cheng, manager of Hang Seng Qianhaigang Stock Connect Select Hybrid Fund, said that although the current monetary policy environment and overall financing conditions are relatively relaxed, lower yield expectations hinder the ability and willingness of residents and enterprises to expand their credit, which in turn has led to twists and turns in the recovery process. As a result, national policies became the main support. At the same time, it is also important to beware that if the US continues to maintain a high interest rate policy, it may cause US Treasury yields to soar and the US dollar to strengthen, and the Hong Kong stock market may also face negative pressure such as capital outflows and valuation compression.