Abstract: We analyzed southbound Hong Kong Connect flows for the week ending April 30th, estimating total net inflows of USD 1,281.0 million into Hong Kong-listed stocks by mainland investors, representing the third consecutive week of inflows but 41.7% lower than the USD 2,195.9 million recorded two weeks prior. The HSCEI declined 2.9% over the same period. The largest inflows were led by China Mobile (USD 450m), TraHK HSI ETF (USD 438m), CNOOC (USD 429m), Xiaomi (USD 338m), and HSCEI ETF (USD 317m), while the largest outflows were from Alibaba (USD 480m), Tencent (USD 371m), and Geely Automobile (USD 221m). By sector, Information Technology (USD 613m inflows) and Energy (USD 405m inflows) led buying activity, while Consumer Discretionary saw USD 134m in outflows. In the mid-cap space, Cig Shanghai saw the most significant inflow relative to free float at 20.7%, while Kingsoft Cloud saw outflows of 3.2% of free float.
CIG SHANGHAI, ICBC, XIAOMI, CCB, CNOOC, CHINA MOBILE
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