STOCKS | Hong Kong Stocks Fall As Northbound Funds Buy Alibaba, Sell SMIC

Hong Kong stocks fell on Friday, with the Hang Seng Index closing at 24,805, down 148 points, or 0.6%, after opening 236 points lower and trading between 24,570 and 24,851, according to ETNet. Northbound funds recorded a net inflow of HK$4.431 billion, down 2.6%. The most-bought stocks were Southern Hang Seng Tech, ZJ Innolight, and Alibaba, while the most-sold were SMIC, MiniMax, and CNOOC. Mainboard turnover exceeded HK$228.4 billion, up 14.9%. Southbound trading via Stock Connect accounted for nearly HK$95.5 billion, or 41.8% of total turnover. Southern Hang Seng Tech fell 0.3% to HK$4.24, with net buying of HK$937 million; ZJ Innolight rose 4.4% to HK$1,170, with net buying of HK$648 million; and Alibaba gained 0.6% to HK$107.5, with net buying of HK$515 million. SMIC fell 0.5% to HK$63.15, with net selling of HK$171 million; MiniMax dropped 7.5% to HK$270, with net selling of HK$96 million; and CNOOC declined 2.6% to HK$24.38, with net selling of HK$17 million.