Beishui Trends | Beishui made a net purchase of 291 million, Beishui once again sold AI hardware stocks and added AIA Insurance (01299) to over HK$1 billion

The Zhitong Finance App learned that in the Hong Kong stock market on October 9, Beishui traded a net purchase of HK$291 million. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$2,331 billion, and Hong Kong Stock Connect (Shenzhen) had net purchases of HK$2,622 million.

The individual stocks that Beishui Net bought the most were AIA (01299), Alibaba-W (09988), and Smart Spectrum (02513). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), Changfei Optical Cable (06869), and SMIC (00981).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

AIA (01299) received a net purchase of HK$1,066 million. Bank of America Securities said that AIA plummeted 5% on the first day of the China Golden Week holiday, and the Hang Seng Index fell 3% during the same period. According to the bank, the first day of the Golden Week in the past 6 years also saw similar high volatility. The first day's performance did not indicate a trend for the entire month of October. The sharp decline was mainly due to quiet transactions and absence of capital inflows to the south, rather than fundamental issues. Reiterating the “Buy” rating, the target price is HK$95.

Alibaba-W (09988) received a net purchase of HK$611 million. According to a research report published by UBS, Ali's cloud business growth and profit margin performance for the second fiscal quarter ending the end of September may be stronger than expected. Coupled with prudent investment, it is believed that it can lay a good foundation for a rebound in earnings per share. Benefiting from Alibaba Cloud's profit growth and better-than-expected e-commerce profit margins, the bank currently expects total quarterly revenue to grow 8.6% year-on-year. The adjusted EBITA is expected to reach RMB 30 billion, which is higher than the market forecast of RMB 26.8 billion.

Smart Spectrum (02513) and MINIMAX-W (00100) received net purchases of HK$363 million and HK$51.43 million respectively. Recently, Amazon Bedrock, a large model service platform owned by Amazon Web Technology (AWS), officially announced that it will be connected to Smart Spectrum GLM-5.3. AWS will share revenue based on model call volume and smart spectrum. This is the second time in a week that China's big model has entered the global leading platform's settlement system.

CNOOC (00883) received a net purchase of HK$58.63 million. According to the latest short-term energy outlook report released by the EIA, the global benchmark Brent crude oil average price forecast for 2026 was raised to about 98 US dollars per barrel, 8% higher than the previous forecast. Meanwhile, Brent's average price for the fourth quarter is expected to be around $105 per barrel, 15% higher than the EIA's previous estimate.

Changfei Optical Fiber Cable (06869), SMIC (00981), and Jiantao Laminate (01888) were net sold at HK$557 million, $260 million, and HK$180 million respectively. According to reports, OpenAI's annualized revenue scale is 20 billion US dollars lower than the level previously revealed by the company. Although the $20 billion gap is not due to business deterioration, but rather a systematic bias in statistical caliber, the market is still concerned. If the actual revenue of AI application companies falls short of previous expectations, then their ability and will to expand computing power, procure chips, and build data centers in the future may also be affected.

Yingfu Fund (02800) had a net sale of HK$1,819 billion. Wu Lixian, an international securities strategist at Everbright Securities, said that the overnight decline in US bond yields was one of the main factors driving the rebound in Hong Kong stocks. Strong demand for US bond auctions mitigated market concerns about the high interest rate environment and led to a recovery in large technology stocks. However, the current market has not shown any clear signs of reversing the decline. If capital and external environment do not improve further, Hong Kong stocks may continue to adjust the pattern next week.

In addition, Kingsley Biotech (01548) received a net purchase of HK$169 million, while Tencent (00700) had a net sale of HK$258 million.