According to the WiseNews APP, on October 8 in the Hong Kong stock market, Beishui had a net buying of 2.066 billion Hong Kong dollars, with a net buying of 0.437 billion Hong Kong dollars through the Shanghai-Hong Kong Stock Connect and a net buying of 1.629 billion Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect.

The top stocks with the highest net buying by Beishui are Alibaba-W (09988), Semiconductor Manufacturing International Corporation (00981), and Xiaomi Corporation-W (01810). The top stocks with the highest net selling by Beishui are Hong Kong Exchanges and Clearing Limited (00388), CNOOC Limited (00883), and China Mobile (00941).

Active trading stocks for Hong Kong stock connect (Shanghai).

Active trading stocks for Hong Kong stock connect (Shenzhen).

Alibaba-W(09988) received a net purchase of 3.624 billion Hong Kong dollars. In terms of news, Morgan Stanley published a report, indicating that the southbound capital's holdings of Alibaba increased from 0.4% in the first week of September to 2.7% by the end of September. According to Wind data, the net inflow reached 39 billion RMB (approximately $5.5 billion USD), with estimated southbound capital holdings potentially reaching low double digits (%), referencing the average holding ratio of other stocks in the first year of entering the Hong Kong Stock Connect program. Goldman Sachs estimates that the southbound capital's holding ratio of Alibaba is expected to be between 8% and 17% within one year, with an expected net inflow of $13 billion to $17 billion USD (approximately $101 billion to $132.1 billion Hong Kong dollars).

Semiconductor Manufacturing International Corporation (00981) received a net purchase of 1.808 billion Hong Kong dollars. In terms of news, Goldman Sachs released a research report stating that wafer companies are expected to benefit from the rising demand for domestic semiconductor manufacturing, driving long-term revenue expansion. However, profits are still under pressure due to pricing and depreciation burdens resulting from capacity expansion. The bank indicated that mainland wafer factories are expanding capacity according to plan to meet rising local demand, with a positive view on long-term opportunities. Previously, HTSC stated that it is bullish on the long-term valuation recovery of the semiconductor manufacturing sector in Hong Kong stocks.

Kuaishou-W(01024) received a net purchase of 0.145 billion Hong Kong dollars. In terms of news, a report from Lyon highlighted Kuaishou's e-commerce strategy focusing on driving product sales more than subsidized sales. The report is optimistic about its continuous promotion of internal advertising conversion through comprehensive platform promotion and simple advertising products, as well as external advertising expenditures from short films, small games, and novels. On the other hand, the company's AI applications will also improve content creation and recommendations. Among them, the Smart Audio-visual model can create videos longer than a minute. The bank expects Kuaishou to maintain approximately 15% growth in commodity trading volume, with adjusted net profit of about 8.5 billion RMB in the second half of the year.

Northbound funds increased their positions in China-affiliated brokerage stocks, with China International Capital Corporation (03908) and CITIC Securities (06030) receiving net purchases of 0.14 billion and 67.47 million Hong Kong dollars respectively. In terms of news, UBS released a research report indicating that multiple catalytic factors are believed to be emerging in the brokerage industry. These factors include, on a macro level, the mainland's reserve requirement reduction, interest rate cuts, and downward adjustments in existing home loan rates; in the capital markets sector, the establishment of market value management guidelines, support for share buybacks, and attracting long-term funds into the stock market. In terms of sectors, industry consolidation is expected to accelerate, improving the competitive environment. The bank believes that the A-share valuation of brokerage stocks is still relatively cheap, but compared to historical average valuations, H-share valuations are not considered inexpensive.

Tencent (00700) faced a net sell-off of 0.293 billion Hong Kong dollars. In terms of news, according to public information from the Hong Kong Stock Exchange, Tencent Holdings repurchased 35.9 billion Hong Kong dollars in the third quarter. In the first three quarters of this year, Tencent has accumulated the repurchase of 0.25 billion shares, with a total repurchase amount reaching 88.26 billion Hong Kong dollars, setting a new historical high for the same period. As of the close on October 7th, Tencent has already repurchased over 89 billion Hong Kong dollars this year. At the current pace, Tencent's "over 100 billion repurchase" target set at the beginning of the year is expected to be achieved ahead of schedule.

CNOOC (00883) faced a net sell-off of 0.696 billion Hong Kong dollars. In terms of news, on October 8th, WTI crude oil fell to $75 per barrel, dropping by 2.4% intraday. Brent crude oil fell below $79 per barrel, down by 2.2% intraday. Previously, stimulated by escalating tensions in the Middle East, international oil prices had been rising continuously. Guotai Junan Futures believes that global crude oil consumption will enter the seasonal off-peak period. Based on the latest online meeting content of OPEC+, which plans to gradually increase production starting in December, the organization's impact on basic fundamentals of oil is leaning bearish. Under this background, if geopolitical tensions ease in the future, oil prices may experience rapid downward correction in the short term, possibly shifting downwards in the mid to long term.

Hong Kong Exchanges and Clearing (00388) faced a net sell-off of 2.383 billion Hong Kong dollars. In terms of news, Goldman Sachs issued a research report stating that the average daily turnover in the Hong Kong stock market in the third quarter reached 119 billion Hong Kong dollars, a 21% year-on-year increase, with the momentum in the market continuing in October. However, the sustainability of the rebound in average daily turnover remains key. HSBC pointed out that the sharp increase in average daily trading volume (ADT) during the National Day holiday was only short-term, as investors were unable to invest in A-shares. The bank believes that there is limited upside potential for its stock price to rise further.

In addition, Xiaomi Corporation-W (01810) received a net inflow of 0.833 billion Hong Kong dollars. While China Mobile (00941) and Sunac China (01918) experienced net outflows of 0.43 billion and 0.366 billion Hong Kong dollars, respectively.