On October 16 in the Hong Kong stock market, northbound trading recorded a net sell of HK$3.568 billion. Among this, Stock Connect (Shanghai) recorded a net sell of HK$2.066 billion, while Stock Connect (Shenzhen) recorded a net sell of HK$1.503 billion.
The stocks with the largest northbound net buying were AIA (01299), Tencent (00700), and China Hongqiao (01378). The stocks with the largest northbound net selling were Kingboard Laminates (01888), Alibaba-W (09988), and CNOOC (00883).
AIA (01299) received net buying of HK$763 million. Citigroup recently stated that it expects AIA's overall new business value to slightly contract by 2.6% year-on-year in the third quarter on a constant currency basis, and to fall 2% year-on-year on an actual currency basis. The base effect is expected to normalize in the fourth quarter and resume steady growth, with a positive medium-term outlook driven by operational resilience, sustainable growth, and gradual improvement in operating profit after tax per share and dividends.
Tencent (00700) received net buying of HK$388 million. On October 14, two of Tencent's leading office products by user scale, WeCom and WorkBuddy, jointly released a new version featuring deep two-way integration. After this upgrade, WorkBuddy officially entered the WeCom address book and can access WeCom's work context, with both sharing a single WeCom account system. This update combines Tencent's long-accumulated connectivity capabilities with agent understanding and execution capabilities, penetrating into real enterprise scenarios.
China Hongqiao (01378) received net buying of HK$66.46 million. In recent years, Guinea has become an important source of bauxite imports for China. Citigroup pointed out that most of the growth in Guinea's bauxite production and exports comes from the SMG/WAP project led by the world's largest aluminum producer, China Hongqiao. Chinese smelters have effectively achieved "upstream integration," reducing demand for traded bauxite, which structurally lowers bauxite prices and is favorable for profit margins.
Yangtze Optical Fibre and Cable (06869), SMIC (00981), and Kingboard Laminates (01888) were net sold HK$28.39 million, HK$55.86 million, and HK$305 million, respectively. Anthropic disclosed its latest financial data at an IPO investor meeting. Although revenue continues to grow rapidly, the growth rate in the third quarter slowed compared to the second quarter, and some potential investors believe its IPO valuation expectations may need to be lowered. Meanwhile, the CEOs of Broadcom and Intel both warned on Monday that financing issues could become a major obstacle to AI expansion. In addition, Alibaba-W (09988) and CNOOC (00883) were net sold HK$250 million and HK$209 million, respectively.