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South-to-North Water Transfer reduced holdings of multiple technology stocks, while North-to-South Water Transfer has been net buying Tencent for 12 consecutive days and selling China Mobile and China Telecom.
Track the latest trends of north-south directional funds.
Northbound capital trend | Northbound capital's net buy of 2.278 billion, double winners of wafer foundry performance, received additional buying. Telecommunication sector stocks collectively experienced sell-offs by domestic institutional investors.
On August 9th, the Hong Kong stock market had a net buy of 2.278 billion Hong Kong dollars in Northbound trading. Among them, the net buy of Hong Kong Connect (Shanghai) was 1.329 billion Hong Kong dollars, and the net buy of Hong Kong Connect (Shenzhen) was 0.949 billion Hong Kong dollars.
Jefferies Adjusts China Mobile's Price Target to HK$101.39 From HK$101.69, Keeps at Buy
Research Reports | CICC: China Mobile's net income in the first half of the year has grown well, maintaining the "outperform industry" rating for A and H shares.
According to research reports from China International Capital Corporation, China Mobile's revenue in the first half of the year was slightly lower than expected, mainly due to a decline in personal market revenue compared to the previous year; due to better-than-expected control of network operating costs, net income increased significantly in the first half of the year. It is believed that mobile ARPU is expected to recover from the 1H performance for the whole year. The company actively creates new growth points for smart home applications, and believes that household market revenue is expected to continue to achieve good growth. In addition, mobile cloud revenue maintains a fast growth rate, with a 1H24 political and enterprise market revenue of 112 billion yuan, a year-on-year increase of 7.3%. The company's management expects accounts receivable to improve in the second half of the year, and believes that the improvement in accounts receivable for the whole year is expected to promote the company's grow
BOCI Securities: Reiterates "buy" rating for China Mobile, target price lowered to HKD 82.
BOCI Research has released a report reiterating a 'buy' rating on China Mobile (00941). Although traditional telecommunication services may continue to slow down, it maintains a positive view on the development of AI and cloud-driven business for government and enterprise. The target price has been lowered to HKD 82. The report states that the company has achieved excellent performance in a difficult market. Despite the slowdown in the traditional telecommunications service market, its performance in the first half of the year was still good, with a mid-term profit growth of 5.3% YoY, an increase of 7% in dividends per share compared to the same period last year, and a 21% reduction in capital expenditure during the period, while achieving large-scale construction of 5G networks and AI computing power layout.
Hong Kong stocks fluctuate | Telecommunication sector under pressure, China Mobile (00941) revenue growth slows down in the first half of the year, Lyon expects weak midterm performance of the industry.
The telecommunication sector is under pressure. As of press time, China Telecom (00728) fell 3.18% to HKD 4.26; China United Network Communications (00762) fell 2.88% to HKD 6.4; China Mobile (00941) fell 1.8% to HKD 70.95.
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ZnWC : China has emerged as the world’s top producer of generative AI patents, but it is struggling to turn many of its ideas into action thanks to US export controls and longstanding struggles with its innovation culture at home.
Source:
China wrestles with ‘quantity over quality’ in generative AI patents | Technology - Al Jazeera
ZnWC : Despite the lower overall number of patents, US developers have a clear lead. Stanford University’s 2024 AI Index named the US as the undisputed home of the most “notable AI models” to date, producing 61, compared with 21 from the European Union and 15 from China.