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DeepSeek has emerged, and Chinese Technology stocks have surged! Citibank: the market is not yet overheated.
Citigroup Analyst believes that since the beginning of the year, the QITABANKUAI in China has indeed seen an increase in congestion, primarily due to the rise of technology stocks, which has boosted overall valuations and improved market sentiment. However, if excluding the weight stock Xiaomi Group, it can be found that although the QITABANKUAI in China has a higher congestion compared to other sectors, it is still not the most congested sector, indicating that this sector has not yet overheated.
BOCOM INTL: Hong Kong stocks/Chinese concept stocks will continue to benefit from the value reassessment brought about by technological innovation.
BOCOM INTL expects stable growth in performance for sub-industries including OTA/gaming/e-commerce, while the performance of advertising/lifestyle services/entertainment companies is varied.
Fund trends | North Water has sold Tencent shares worth over 5.3 billion Hong Kong dollars for three consecutive days, while increasing holdings in Alibaba and Semiconductor Manufacturing International Corporation.
Track the latest dynamics of southbound capital.
CITIC SEC: Maintains "Buy" rating on BYD Electronics (00285), expected to benefit significantly from the deep penetration of smart driving in 2025.
CITIC SEC predicts that BYD Electronics' net income for the years 2024-26 will be 4.6/6.4/8.1 billion yuan respectively.
Northward capital trends | Northward capital net purchase of 7.512 billion, reportedly Alibaba (09988) is an Apple partner for AI in China, local capital aggressively buying Alibaba exceeding 3 billion Hong Kong dollars.
On February 12, in the Hong Kong stock market, northbound trading recorded a net purchase of 7.512 billion Hong Kong dollars, among which SH->HK Connect had a net purchase of 5.919 billion Hong Kong dollars, and SZ->HK Connect had a net purchase of 1.592 billion Hong Kong dollars.
Illustration | Southbound capital significantly increased its holdings in Alibaba by over 3 billion Hong Kong dollars, while reducing its holdings in Tencent for two consecutive days, totaling 3.6 billion Hong Kong dollars.
Southbound funds today had a net purchase of Hong Kong stocks amounting to 7.512 billion HKD. Among them: net purchases of Alibaba 3.043 billion, MEITUAN-W 1.383 billion, Semiconductor Manufacturing International Corporation 0.834 billion, Industrial And Commercial Bank Of China 0.687 billion, BYD Electronics 0.538 billion, CHINA MOBILE 0.435 billion, Geely Autos 0.422 billion, HUA HONG SEMI 0.164 billion; net sales of TENCENT 1.148 billion, XIAOMI-W 0.959 billion. According to Statistics, southbound funds have seen significant net sales of TENCENT for two consecutive days, totaling 3.608 billion HKD.
