Northbound funds | Northbound trading recorded a net selling of 11.481 billion, Ant Group's acquisition of BRIGHT SMART approved, Northbound funds aggressively acquiring over 1.2 billion HKD in YuCai (01428) stocks.

On March 17th, the net selling of Northbound funds in the Hong Kong stock market was 11.481 billion Hong Kong dollars. Among them, the net selling of Shanghai-Hong Kong Stock Connect was 5.901 billion Hong Kong dollars, and the net selling of Shenzhen-Hong Kong Stock Connect was 5.58 billion Hong Kong dollars. The stocks with the most net buying by Northbound funds are BRIGHT SMART (01428), XIAOMI-W (01810), BABA-W (09988). The stocks with the most net selling by Northbound funds are TRACKER FUND OF HONG KONG (02800), Hang Seng H-Share Index ETF (02828), YOFC (06869). Active trading stocks in Shanghai-Hong Kong Stock Connect Active trading stocks in Shenzhen-Hong Kong Stock Connect BRIGHT SMART (01428) received a net buying of 1.226 billion Hong Kong dollars. In terms of news, on the evening of March 16, BRIGHT SMART announced that Ant Group's proposed acquisition had been approved by relevant Chinese authorities and is expected to be completed on March 30. This means that the most critical part of the acquisition has been completed. Industry insiders point out that the acquisition of Yao Cai Securities will allow Ant Group to obtain a comprehensive securities business license in Hong Kong, filling the qualification gap in its cross-border finance, especially in securities trading and asset management. XIAOMI-W (01810) received a net buying of 301 million Hong Kong dollars. In terms of news, Xiaomi has officially confirmed that it will hold a spring new product launch event for the new generation of Xiaomi SU7 electric cars on the evening of March 19, 2025. Analysts believe that the entry of SU7 will reshape the market for electric vehicles in the 25-30 thousand yuan price range. BABA-W (09988) received a net buying of 298 million Hong Kong dollars. In terms of news, Alibaba announced the establishment of the "Token Business Group", with the "Wukong Business Unit" making its first appearance. Morgan Stanley believes that the establishment of this business group means that there is further room for Alibaba to increase its valuation in the future, and views the company as the preferred "Chinese AI winner". The current high-end SOTP valuation for Alibaba is $345 per share, with an individual valuation of $19 per share for the Thousand Questions Business Unit. CNOOC (00883) received a net buying of 197 million Hong Kong dollars. In terms of news, there is no sign of easing tensions in Iran. UBS believes that at the current rate of inventory consumption, global oil inventories will fall to the lower third of historical distribution range by the end of March, and will reach historically low levels by the end of April. By then, the price of Brent crude oil may rise to over $150 per barrel, with further upside risk. Northbound funds continued to sell Hong Kong stock ETFs, with TRACKER FUND OF HONG KONG (02800), Hang Seng H-Share Index ETF (02828), CSOP Hang Seng TECH Index ETF (03033) seeing net selling of 8.82 billion, 1.822 billion, and 457 million Hong Kong dollars respectively. In terms of news, Guoyuan International stated that the Hong Kong stock market may still face disruptions due to external uncertainties in the future, but as the most intense period of military conflict has passed, future market sensitivity to war may decrease, and the market may be more sensitive to positive developments in the situation in the Hormuz Strait, so a rebound in the market may not be far off and worth watching. YOFC (06869) saw net selling of 704 million Hong Kong dollars. In terms of news, at the GTC 2026 conference, Huang Renhun stated that "copper is still important, and optics will be used for expansion in different dimensions, both of which are necessary capabilities." As early as last year, Huang Renhun emphasized that silicon optical technology still needs a few years to land, and copper technology should be used as much as possible. Such remarks have led to a moderation in expectations for the "optical in, copper out" trend. In addition, Shandong Molong Petroleum Machinery (00568), Semiconductor Manufacturing International Corporation (00981), Tencent (00700) saw net selling of 21.17 million, 175 million, and 633 million Hong Kong dollars respectively.