Beishui's trend | Beishui's net purchase of 5.692 billion Kewang shares and oil shares were increased. China Mobile (00941) was sold for nearly HK $900 million

Beishui's trend | Beishui's net purchase of 5.692 billion Kewang shares and oil shares were increased. China Mobile (00941) was sold for nearly HK $900 million
17:47, March 20, 2023 Zhitong Finance APP

Zhitong Financial APP learned that on March 20, Beishui had a net purchase of 5.692 billion yuan in the Hong Kong stock market, including 2.797 billion Hong Kong shares (Shanghai) and 2.895 billion Hong Kong shares (Shenzhen).

The individual stocks that Beishuijing bought most were Hang Seng China Enterprise (02828), Tencent (00700) and SMIC International (00981). The stocks sold most by Beishuijing are China Mobile (00941), Li Ning (02331) and CNOOC (00883).

Active trading shares of Hong Kong Stock Connect (Shanghai)

Hong Kong Stock Connect (Shenzhen) actively traded shares

Beishui Capital continued to increase its position in Sci Net stocks. Tencent (00700) and Meituan-W (03690) were net buyers of HK $891 million and HK $121 million respectively. On the news side, Soochow Securities released a research report saying that it is recommended that investors can arrange the subject matter of the Hang Seng Technology Index at a low level. In the short term, the Hang Seng Technology Index was affected by the US economic recovery and the short-term recovery of the Internet, which was less than expected, but the direction of its fundamental recovery is certain. This year, Internet companies as a whole will maintain quality development. In the future, once the Federal Reserve slows down the expectation of interest rate increase, it will also bring greater flexibility to the Hang Seng Technology Index.

SMIC International (00981) received a net purchase of HK $58.35 million. On the news side, BOCOM International Research said that the speech of domestic executives on the development of integrated circuit industry has injected a boost into the semiconductor sector. Although the semiconductor cycle has not yet bottomed out, it is expected that more specific industry support policies will be implemented in the coming months, and the emotional improvement brought by the policies will come before the cycle. CITIC Securities said that domestic substitution has become the biggest driving force for the development of the domestic chip industry.

Oil stocks were also sought after. Sinopec (00386) and CNOOC (00883) were net buyers of HK $58.35 million and HK $8.91 million respectively. On the news side, last week, the international oil price fell by more than 11% in a single week. Today, the international oil price continued to plunge sharply, with the US and the Brazzaville oil both falling by 2% in the afternoon. Soochow Securities believes that the current oil price of 70 is at the bottom. If the oil price continues to be significantly lower than 70, it is expected that opec will carry out a new round of production reduction to support the bottom oil price, hedge the impact of declining demand through production reduction, and the United States will increase efforts to replenish strategic crude oil stocks.

China Construction Bank (00939) received a net purchase of HK $55.35 million. On the news side, CITIC Securities Research News said that the current domestic banking liquidity risk is stable and controllable under the continuous deduction of external financial risks. The RRR reduction has effectively eased the pressure on some banks, while the medium and long-term financial stability still needs to return to the source of commercialization. In addition, CCB announced its annual results on Wednesday (29th). According to the expectations of many securities companies, CCB's net profit in 2022 will be between 314.243 billion yuan and 323.25 billion yuan, up 3.9% to 6.9% year on year.

Telecom shares are still differentiated. China Telecom (00728) received a net purchase of HK $40.52 million, while China Mobile (00941) received a net sale of HK $888 million. On the news side, JPMorgan Chase has previously said that at present, offshore investors have become more cautious in investing in China's telecommunications sector, starting to shift from China Telecom and China Unicom to China Mobile, whose investment performance is relatively backward, as a more defensive choice; However, Chinese investors are more optimistic, regarding telecommunications companies as undervalued state-owned assets and looking forward to the potential for revaluation.

In addition, Hang Seng China (02828) received a net purchase of HK $1015 million, while Li Ning (02331) received a net sale of HK $78.31 million.

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