Northbound funds | Northbound transactions netted 4.657 billion, Yivoxi's OS data defeat PD-1 monoclonal antibodies, and Northbound funds have aggressively invested over 2.7 billion in AKESO (09926).

On June 1, the Hong Kong stock market saw a net inflow of 4.657 billion Hong Kong dollars from Northbound trading. Of this, the net inflow from the Shanghai-Hong Kong Stock Connect was 2.87 billion Hong Kong dollars, and the net inflow from the Shenzhen-Hong Kong Stock Connect was 1.788 billion Hong Kong dollars. The stocks with the highest net purchases by Northbound investors were AKESO (09926), Tencent (00700), and POP MART (09992). The stocks with the highest net sales by Northbound investors were KB LAMINATES (01888) and HUA HONG SEMI (01347). In the Shanghai-Hong Kong Stock Connect, AKESO (09926) received a net inflow of 2.707 billion Hong Kong dollars. In terms of news, AKESO's IO drug AK112 showed superior OS data compared to PD-1 monoclonal antibodies. CMSC expressed optimism in AK112 as a next-generation IO treatment cornerstone drug, with the advantages of being a front-runner and overseas value realization. The excellent OS benefits shown in the HARMONi-6 trial are expected to be reflected globally and are poised to achieve success in the highly contested field of immunotherapy in lung cancer. Tencent (00700) received a net inflow of 1.023 billion Hong Kong dollars. In terms of news, Tencent's Senior Executive Vice President and CEO of the Cloud and Smart Industries Group, Tang Daosheng, recently stated that Tencent is actively using AI in its core business operations. In the gaming and advertising sectors, AI has helped increase user engagement, improve conversion rates, and contribute more than 20% of revenue growth to these businesses. POP MART (09992) received a net inflow of 800 million Hong Kong dollars. In terms of news, on May 25, Duan Yongping increased his holdings in POP MART through his H&H Fund. Duan Yongping and his concerted parties now hold a total of 76.3716 million shares, representing a 5.69% stake, making him the second largest shareholder of POP MART, behind only the company's founder, Wang Ning. Previously, Duan Yongping had expressed optimism about POP MART multiple times. CNOOC (00883) received a net inflow of 502 million Hong Kong dollars. In terms of news, the head of RBC's Commodities Research issued a warning in a recent report: there is a serious deviation between current oil price trends and supply realities, with global inventories being consumed at a record pace. If the situation cannot achieve a substantial breakthrough, June to August of this year will pose a severe stress test to the crude oil market. BABA-W (09988) received a net inflow of 97.02 million Hong Kong dollars. In terms of news, Alibaba Group, along with the Union of European Football Associations and UC3, announced a partnership in Budapest, Hungary. Alibaba has become the official exclusive AI, cloud computing services, and e-commerce partner for the UEFA Champions League, UEFA Europa League, UEFA Europa Conference League (from the 2027/2028 season to the 2032/2033 season), and the 2028 European Championship. Chip stocks showed differentiation, with Semiconductor Manufacturing International Corporation (00981) receiving a net inflow of 96.04 million Hong Kong dollars, while HUA HONG SEMI (01347) saw a net outflow of 200 million Hong Kong dollars. In terms of news, the State-backed fonds have disclosed a reduction in holdings, involving three leading semiconductor companies: National Silicon Industry Group, Darbond Technology, and Semiconductor Manufacturing International Corporation. Market analysts believe that the State-backed funds' reduction in holdings is a routine market exit behavior. However, some industry institutions have expressed concerns that after continuous increases, the trading congestion in the A-share semiconductor sector has reached historic highs, leading to potential technical pullbacks or volatility risks in the short term. Additionally, YOFC (06869) received a net inflow of 56.47 million Hong Kong dollars, while KB LAMINATES (01888) saw a net outflow of 208 million Hong Kong dollars.