Abstract: We analyzed Hong Kong Connect southbound flows for the month ended May 29th, estimating net outflows of USD 458.7 million from mainland investors into Hong Kong-listed stocks, a sharp reversal from inflows of USD 5,669.5 million in April. The HSCEI returned -0.8% over the same period. By sector, Information Technology ($2,676 million), Financials ($1,124 million), and Energy ($1,118 million) led inflows, while Consumer Discretionary ($2,370 million), Fund ($854 million), and Materials ($689 million) led outflows. On a stock level, SMIC was the top inflow recipient at $1,610 million, followed by China Mobile ($843 million) and Petrochina ($790 million), while Alibaba (-$1,514 million) and Tencent (-$1,486 million) saw the largest outflows. Among stake changes, Wellcell Hold gained the most at +37.18 percentage points, while Sunshine Lake Pharma saw the largest reduction at -24.22 percentage points.
TENCENT, PETROCHINA, ALIBABA, SMIC, CHINA MOBILE
A weekly review of Southbound Stock Connect flows into Hong Kong stocks, estimated from changes in Connect holdings. Each issue tabulates the largest inflows and outflows across the whole market, HSCEI, mid-cap and small/mid-cap groups. All issues of HK Connect Flows Weekly →
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