The Zhitong Finance App learned that on November 29, the Hong Kong Stock Exchange had a net purchase of HK$3.278 billion, of which Hong Kong Stock Connect (Shanghai) had a net purchase of HK$0.294 billion and the Hong Kong Stock Connect (Shenzhen) transaction had a net purchase of HK$2.984 billion.

The individual stocks that Beishui Net bought the most were Meituan-W (03690), Alibaba-W (09988), and Tencent (00700). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), CNOOC (00883), and SMIC (00981).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Beishui Capital continues to grab HK$0.359 billion, and Meituan-W (03690), Alibaba-W (09988), and Tencent (00700) received net purchases of HK$0.829 billion, 0.42 billion, and HK$0.359 billion respectively. According to the news, according to the Shanghai Securities News, Wells Fargo Fund believes that the current correction in Hong Kong stocks may have been sufficient, and the valuation has once again returned to a cost-effective position. Looking at the medium to long term, the current steady growth policy is beginning to show results, driving the structural marginal restoration of economic and financial data in October. The Internet sector under favorable conditions of improving liquidity, relative sensitivity to interest rates, and recovering profit margins first may usher in better layout opportunities.

China Mobile (00941) received a net purchase of HK$0.26 billion. According to the news, according to data released by the Ministry of Industry and Information Technology, total telecom service revenue growth in October stabilized at 2.1% year on year, and new business increased 4.2% year on year. Bank of China International published a report stating that the telecom service industry was upgraded from “neutral” to “increased holdings,” even if the price-earnings ratio base of all major telecom companies is at +1 standard deviation. The reason is the predictability of telecom companies' profit growth and stable dividend rates, which is ideal under current market conditions; policy efforts to convert debt will help rekindle cloud-/AI infrastructure spending and validate telecom companies' leadership in the growing AI infrastructure market in China.

Sunac China (01918) received a net purchase of HK$13.33 million. On the news, CITIC Securities said that the core logic behind stopping the decline in real estate remains driving a relative balance between supply and demand. Specifically, on the supply side, it is expected that the acquisition of existing housing stock will be increased in the future and local governments will be supported to recycle eligible vacant land; on the demand side, it is expected that interest rates on provident funds and mortgage loans will be reduced, and the relaxation of purchase restrictions in high-energy cities will gradually be implemented, driving the steady release of demand for home purchases.

Mingchuang Premium (09896) received a net purchase of HK$6.09 million. According to the news, Mingchuang Premium released its third quarter results after the market. Revenue for the first three quarters was 12.281 billion yuan, an increase of 22.8% over the previous year. Adjusted net profit increased 13.7% year over year to 1.9281 billion yuan. Furthermore, the number of Group stores worldwide has reached 7,420, a net increase of 859 since the year. Among them, MINISO overseas and TOPTOY's net increases in the first three quarters have each exceeded that of last year.

Yingfu Fund (02800) had a net sale of HK$1.515 billion. According to the news, Sino-Thai International said that China's policy has entered a short empty window, leaving capital with no will to enter the market. Trump's potential tough cabinet formation against China and the anticipated 10% tariff increase are all further driving up the risk premium on Chinese assets. As December approaches, investors are once again betting on expectations of economic stimulus. Hong Kong stocks are in a volatile situation where “when they are sluggish, they expect policies to rebound, and when they rise, falling policy expectations bring adjustments.”

Additionally, CNOOC (00883) and SMIC (00981) had net sales of HK$61.81 million and HK$12.7 million respectively.