Quantitative Research

HK Connect Flows Weekly (Oct 23rd): Smic, ICBC, Xiaomi, Baba, Lenovo, AIA

23 Oct 2026 By Ke Yan, CFA, FRM
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Abstract: We analyzed weekly Hong Kong Connect holding flows by mainland investors as of October 23rd across all market, HSCEI, mid cap, and s/mid cap groups. Southbound flows showed outflows of USD 803.1 million, 10.7% lower than the USD 899.0 million outflow two weeks prior, versus a 2.8% decline in the HSCEI over the same period. This marked the second consecutive week of outflows. Smic led outflows at $270 million, followed by ICBC at $252 million, Xiaomi at $198 million, Baba at $198 million, and Lenovo at $197 million. On the inflow side, AIA led with $197 million, well ahead of other inflow names.

CHINA RES LAND (1109 HK) BIREN TECH (6082 HK) CNOOC (883 HK) AIA (1299 HK) TENCENT (700 HK) ILUVATAR COREX (9903 HK)

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CHINA RES LAND, BIREN TECH, CNOOC, AIA, TENCENT, ILUVATAR COREX

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