North Water Trends | Beishui's net purchase was 0.15 million, Beishui Plus AIA (01299) sold over HK$800 million and Ali (09988) surpassed 500 million

The Zhitong Finance App learned that on September 29, in the Hong Kong stock market, Beishui traded a net purchase of HK$15 million. Among them, Hong Kong Stock Connect (Shanghai) had a net purchase of HK$2,314 billion, and Hong Kong Stock Connect (Shenzhen) had a net sale of HK$2,299 billion.

The individual stocks that Beishuijing bought the most were AIA (01299), Xiaomi-W (01810), and Zhiguo (02513). The individual stocks sold the most by Beishui Net were Southern Hang Seng Technology (03033), SMIC (00981), and Alibaba-W (09988).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

AIA (01299) received a net purchase of HK$809 million. Jefferies previously released a research report saying that Thailand is AIA's third-largest and highest-quality division, with over 90% of sales being covered or charged. As of the first half of 2026, AIA Thailand accounted for 15% of the Group's new business value (VONB) and 12% of embedded value (EV). The bank maintained AIA's “buy” rating and target price of HK$114, believing that the Thai business was undervalued by investors.

Xiaomi Group-W (01810) received a net purchase of HK$383 million. Citi recently stated that Xiaomi launched its latest flagship 18 Pro/Pro Max, with prices starting at 5,999 yuan and 6,999 yuan respectively. They are lower than competitors in the same level, but the specifications are comparable or superior to those in the same industry. The bank believes that this release strengthens Xiaomi's high-end strategy and cost-effective positioning. The next catalyst is shipment data and results for the third quarter of this year.

Jiantao Laminate (01888) received a net purchase of HK$75.52 million. Citigroup released a research report saying that in the face of a continued shortage of AI materials, Jiantao Laminate has room to rise in profits, giving it a “buy/high risk” rating, with a target price of HK$95. The bank believes that Jiantao laminates can still use their high quality and vertical integration advantages to obtain AI-CCL test certification from Chinese and American GPU and CSP companies.

Pharmaceutical Biotech (02269) received a net purchase of HK$45.82 million. Goldman Sachs published a research report saying that at the Goldman Sachs Healthcare and CDMO industry exchange event held a few days ago, it was revealed that the company's overall backlog of orders was strong, increasing by 24% year-on-year to US$25.1 billion. Among them, the backlog of orders over the next three years will increase by about 30% to 5.5 billion US dollars over the next three years, and commercialization visibility will improve.

Changfei Optical Fiber Cable (06869) had a net sale of HK$226 million. Optical fiber leader Hengtong Optoelectronics revealed a fixed increase plan to issue no more than 740 million A-shares, raise no more than 6.636 billion yuan in total capital, and plan to invest in 9 projects including Optical Communications. Specifically, the “Next Generation Optical Fiber R&D and Production Project” plans to invest 758 million yuan, and the “Inner Mongolia Optical High-end Optical New Material Construction Project” plans to invest 862 million yuan. These two form the core of the expansion of production capacity for prefabricated optical fibers and special optical fibers.

Alibaba-W (09988) had a net sale of HK$551 million. Alibaba fully showcased its end-to-end full-stack AI capabilities at the Yunqi Conference, aiming to operate more than 20 GW of global data center production capacity in 2032; Bank of China International published a report stating that it maintained a “buy” rating, but lowered the target price from HK$195 to HK$166. The bank raised Ali's capital expenditure estimates for the 2027 and 2028 fiscal years to approximately RMB 230 billion and RMB 250 billion, and lowered the adjusted earnings per share forecast for the 2027, 2028 and 2029 fiscal years by 9.6%, 5.6% and 0.8%, respectively.

Southern Hang Seng Technology (03033) had a net sale of HK$570 million. Galaxy Securities pointed out that the market needs to reprice a “higher and longer” interest rate environment, and Hong Kong stocks lack trending catalysts in the short term. Previously, interest rate hikes in some capital games rebounded, but the overall tone of the Federal Reserve's September interest rate meeting was more hawkish than market expectations. The bank pointed out that this meant that the logic of running out of profit was broken, and the uncertainty was not eliminated, but rather delayed until the fourth quarter.

In addition, Smart Spectrum (02513) received a net purchase of HK$162 million, while Tencent (00700) and SMIC (00981) had net sales of HK$26.66 million and HK$568 million respectively.