Northbound Trend | Northbound Trading Net Buy 11.714 Billion, Ideal i8 Goes Public After Stock Price Plummets
Zhitong Caijing APP learned that on July 30, Hong Kong's stock market saw a northbound trading net buy of HK$11.714 billion, with the Shanghai-Hong Kong Stock Connect (SHSC) accounting for HK$6.427 billion and the Shenzhen-Hong Kong Stock Connect (SZSC) accounting for HK$5.287 billion.
The top stocks bought by Northbound investors were Ideal Automobile-W (02015), Chemical Pharmaceutical Group (01093), and Meituan-W (03690). The top stocks sold by Northbound investors were SMIC (00981), Sinovac Biotech (01801), and CITIC Securities International (01788).
SHSC Actively Trading Stocks
SZSC Actively Trading Stocks
Ideal Automobile-W (02015) fell sharply by nearly 13% today, with Northbound investors scooping up HK$20.93 billion worth of shares. News reports indicate that Ideal Automobile-W has launched its first pure electric SUV model i8, priced from RMB 32,180 to RMB 45,000. According to a report by Goldman Sachs, the company expects monthly sales of around 6,000 units after the launch. Morgan Stanley notes that the price of i8 is similar to that of the L8 model. The L8 has seen a decline in sales volume of 39% year-on-year in 2024, and the company aims to drive consumer adoption of new pure electric vehicles through this pricing strategy.
Innovative pharmaceutical concepts have shown signs of differentiation, with Chemical Pharmaceutical Group (01093) seeing a net buy of HK$8.72 billion, while Sinovac Biotech (01801) saw a net sell of HK$1.21 billion. According to an HSBC report, the domestic pharmaceutical sector has outperformed the market since the beginning of the year, with the bank expecting strong momentum to continue. Based on rich R&D pipelines and clinical progress, the bank expects multiple new drugs to be launched between 2026 and 2029, with half-year clinical data expected to further drive partnerships.
Northbound investors scooped up stocks in the tech sector, including Meituan-W (03690), Alibaba-W (09988), and Tencent (00700), which saw net sales of HK$4.47 billion, HK$3.57 billion, and HK$1.83 billion, respectively. An insider revealed that China's market demand is strong, leading Nvidia to change its thinking from relying solely on existing inventory to placing orders for 300,000 H20 chips with Taiwan Semiconductor Manufacturing Company (TSMC) last week.
As a result, the uncertainty surrounding Capex for domestic internet companies has decreased, and it is expected that they will return to an upward trend. Key stakeholders believe that this development may lead to an increase in demand for equipment and components from major internet companies.
Another notable stock was Giant Star (06683), which saw a net buy of HK$1.75 billion. News reports indicate that Giant Star announced that its subsidiary, Xun Creative Arts (Kunshan) Cultural Company Limited, has signed a cooperation agreement with Ushi Technology to become a global strategic partner and develop and commercialize products in the field of companion robots or humanoid robots.
SMIC (00981) saw a net sell of HK$2.05 billion. News reports indicate that since the export ban was lifted, several major IC design companies have reduced their orders for Taiwan's mature process foundry, resulting in a decline in utilization rates from around 70% to around 60%, which has had a negative impact on the market sentiment.
In addition, pharmaceutical company Biotechnology (02269) saw a net buy of HK$1.71 billion, while Xiaomi Group-W (01810) saw a net buy of HK$1.48 billion. CITIC Securities International (01788) saw a net sell of HK$7.355 million.