Abstract: We analyzed southbound Hong Kong Connect flows for the week ending May 29th, estimating total net outflows of USD 1,161.6 million from Hong Kong stocks by mainland investors, a decrease of 33.6% from outflows of USD 1,748.2 million the prior week, representing two consecutive weeks of net selling. The HSCEI declined 2.0% over the same period. By sector, Information Technology led inflows at USD 1,962 million and Energy added USD 318 million, while the Fund category saw the largest outflows at USD 2,121 million, followed by Consumer Discretionary at USD 1,168 million and Communication Services at USD 673 million. The top inflow stocks were SMIC (USD 834 million, +1.65% of float), Petrochina (USD 264 million, +0.91% of float), China Resources Land (USD 132 million, +1.02% of float), and AIA (USD 104 million). The largest outflows were concentrated in TraHK HSI ETF (USD 965 million, -4.01% of float), Alibaba (USD 866 million, -0.29% of float), Tencent (USD 703 million, -0.20% of float), HSTECH ETF (USD 637 million), and Yofc (USD 187 million, -1.72% of float).
SMIC, CHINA RESOURCES LAND, KINGBOARD, AIA, PETROCHINA, XPENG
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