North Water Trends | Beishui's net sales of 1,723 billion yuan. Institutions are optimistic about Tencent (00700)'s overall ecological capacity, and Beishui's additional storage Tencent exceeds HK$1.1 billion

The Zhitong Finance App learned that in the Hong Kong stock market on October 20, Beishui traded net sales of HK$1,723 billion. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$849 million and Hong Kong Stock Connect (Shenzhen) had net sales of HK$874 million.

The individual stocks that Beishui Net bought the most were Tencent (00700), CNOOC (00883), and MINIMAX-W (00100). The individual stocks sold the most by Beishui Net were SMIC (00981) and Alibaba-W (09988).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Tencent (00700) received a net purchase of HK$1,147 million. Guoxin Securities said that Tencent has increased investment in AI talents to supplement model research and other capabilities. Short-term companies are in a heavy investment period, with the second half of 2026 and 2027 being key investment stages. In addition to this, the company has advantages on the product side. For example, Workbuddy provides a high-value direction for Tencent's model update, and is optimistic about Tencent's overall ecosystem capabilities.

CNOOC (00883) received a net purchase of HK$274 million. Ping An Securities pointed out that there is still great uncertainty about the US-Iran conflict. The security situation in the Strait of Hormuz has deteriorated, and the probability that the US will launch a new round of military strikes against Iran is rising; the situation in Yemen is spiraling. The Saudi coalition forces launch frequent air strikes on many parts of Yemen, and the Houthis continue to attack airports and oil facilities in Saudi Arabia. The situation in Yemen is difficult to slow down in the short term. Therefore, we believe that geographical risks still have strong support for international oil prices at this stage.

MINIMAX-W (00100) received a net purchase of HK$181 million. According to a research report published by Jefferies, MiniMax emphasizes that the Flash version focuses on the balance of cost efficiency and performance. The Pro version will be launched later, focusing on smart limits. It is expected that the sparse attention architecture will drive better reasoning efficiency. Currently, it maintains the MINIMAX “buy” rating and target price of HK$533.

Changfei Optical Fiber Cable (06869) received a net purchase of HK$150 million. Cathay Pacific Haitong Securities previously stated that the company, as a global leader in optical fiber, is profoundly benefiting from the explosion in demand for high-end optical fiber from AI data centers. It is difficult to expand optical rod production, supply and demand are constantly tightening, and there is a clear trend of fiber price increases.

Jiantao Laminate (01888) received a net purchase of HK$31.16 million. Guohai Securities released a research report saying that as of October 16, more than 20 PCB industry chain companies had disclosed their three-quarter report forecasts. The smooth price logic of price increases from raw materials to finished PCB products was verified by the profit statement, and the three-quarter report may become an inflection point in the release of industrial chain performance.

In addition, Bubble Mart (09992) and Kingsley Biotechnology (01548) received net purchases of HK$104 million and HK$79.14 million respectively. Meanwhile, SMIC (00981) and Alibaba-W (09988) were net sold at HK$571 million and HK$337 million respectively.