Which individual stocks did this institution primarily increase its holdings in?

The timing of JPMorgan Chase & Co.'s increase in holdings coincided with the second day of the Central Political Bureau meeting of the Communist Party of China. On September 26, the Central Political Bureau of the Communist Party of China held a meeting to analyze and study the current economic situation and deploy the next economic work. Before September 27, the Hang Seng Index had been continuously strengthening, with a cumulative increase of over 15% in 10 trading days.

As one of the largest financial service institutions in the United States, JPMorgan Chase & Co.'s increase or decrease in positions not only includes its proprietary trading, but also many operations as an intermediary institution for clients, which are generally mostly by foreign capital. It can be said to represent the trends of some foreign capital.

JPMorgan Chase & Co.'s main stocks that were increased on September 27 include:

$BYD COMPANY (01211.HK)$- Increased holdings of approximately 6.52 million shares listed in Hong Kong, with an average fill price of 274.5244 Hong Kong dollars, involving approximately 1.791 billion Hong Kong dollars. Following this, JPMorgan Chase & Co.'s holding positions increased from 4.85% to 5.45%.

$HKEX (00388.HK)$ At an average price of 296.4760 Hong Kong dollars per share, JPMorgan Chase & Co. increased its holdings by approximately 6.1164 million shares, involving approximately 1.813 billion Hong Kong dollars. After the increase, JPMorgan Chase & Co.'s latest holdings are approximately 81.42 million shares, and the holding position ratio has increased from 5.93% to 6.42%.

$CPIC (02601.HK)$At an average price of 26.2491 Hong Kong dollars per share, JPMorgan Chase & Co. increased its holdings by approximately 10.14 million shares, involving approximately 0.267 billion Hong Kong dollars. JPMorgan Chase & Co.'s holding position ratio increased from 6.98% to 7.35%.

$TSINGTAO BREW (00168.HK)$At an average price of 55.4166 Hong Kong dollars per share, JPMorgan Chase & Co. increased its holdings of approximately 4.375 million H shares, involving approximately 0.242 billion Hong Kong dollars. After the increase, JPMorgan Chase & Co.'s latest holding position ratio increased from 7.60% to 8.27%.

On the previous trading day, September 26, JPMorgan Chase & Co. had already increased its holdings.$PING AN (02318.HK)$H-share 39.861682 million shares, spending approximately 1.771 billion Hong Kong dollars, and the shareholding ratio increased to 8.28%.

Institutions such as JPMorgan Chase & Co. are closely monitoring the capital flows in the Chinese stock market.

JPMorgan Chase & Co.'s A-share research report released on October 2nd stated that the unexpected call for strong policy stimulus at the political meeting led to a strong rebound in A-shares. This rebound is driven by three main factors: decreased short selling ratio, increased margin trading, and investors' excitement. Specifically, as of September 30, the short selling ratio in the Hong Kong market decreased from 21.8% on September 16 to 10.2%; the proportion of margin trading in A-shares as a percentage of total trading volume increased from 7.4% on September 20 to 10.5% on September 27. JPMorgan Chase & Co. believes that the excitement of retail investors and the surge in new account openings are proof that global funds' exposure to the Chinese stock market may be narrowing. JPMorgan Chase & Co. also predicts that from September 23 to 27, A-share ETFs saw a net inflow of 59.3 billion yuan (approximately 8.5 billion US dollars). JPMorgan Chase & Co. points out that the sustainability of the A-share rebound depends on the strength of fiscal policy, macroeconomic data, and profit adjustments.

**** Koon, a strategist from Zhongtai International, stated on October 2nd to Caixin that the sharp rise in Hong Kong stocks perfectly reflects the characteristics of foreign and local funds entering the market successively due to overcoming their fear. This marks the return of foreign funds that significantly underweighted Hong Kong stocks before, as well as a reversal in the trades for the "Mag 7" - previously long on Japanese stocks, Indian stocks, and American stocks, but short on China - a situation similar to the substantial rise of the Japanese yen due to the reversal of yen carry trades in early August, but this time the outcome is in the Chinese stock market.

Macro research team from Huafu Securities released a research report on October 2nd stating that looking at the latest marginal changes, foreign funds in Hong Kong stocks have started a net inflow since September. Since the second half of the month, the net inflow of funds from international intermediaries has reached 39.6 billion Hong Kong dollars, exceeding the net inflow of Southbound funds by 20.5 billion Hong Kong dollars. The current situation in the Hong Kong stock market is still evolving, with further room for growth. Structurally, if the international intermediary funds continue to flow back into the Hong Kong stock market, growth sectors represented by the Hang Seng Technology Index are expected to continue to outperform.

From the data, analysts' forecasts and research have been further validated. Let's continue to focus on the next steps of foreign funds.

Editor/Somer