Abstract: We analyzed Hong Kong Connect southbound flows for April, estimating net inflows of USD 5,672 million from mainland investors into Hong Kong-listed stocks. This represents a 34.9% decline from March inflows of USD 8,707 million, though it extends the streak of consecutive monthly inflows to 11 months. Inflows outpaced the HSCEI's 3.6% return over the same period, with Information Technology ($1,441m), Financials ($1,370m), and Health Care ($1,292m) leading sector inflows, while Funds recorded the largest outflows ($952m). Top inflow names were China Mobile ($1,102m), CCB ($795m), Pop Mart Intl ($590m), ICBC ($569m), and Xiaomi ($432m), while the largest outflows were from Yofc (-$493m), Tencent (-$438m), AIA (-$422m), Geely Automobile (-$403m), and Alibaba (-$346m). The largest stake increases were in Cig Shanghai (+20.0ppt) and Butong (+10.5ppt), while the steepest stake declines were in Huitongda Network (-13.4ppt) and Cosco Ship Energy (-7.9ppt).
CCB, Pop Mart Intl, ICBC, YOFC, CHINA MOBILE
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