Southbound Funds Net Buy Nearly HK$25 Billion in Two Days, Boosting Hong Kong Tech Shares

Southbound funds sharply increased purchases of Hong Kong stocks this week, with inflows concentrated in heavyweight technology names, as the Hang Seng Tech Index rebounded after a June pullback, Jiemian News reported. Choice data showed southbound investors recorded net buys of HK$14.2 billion on July 8 and HK$9.83 billion on July 9, for a combined net inflow of nearly HK$25 billion over the two trading days. Separately, Choice estimates that Hong Kong tech-themed ETFs have seen net inflows of RMB 7.494 billion since the start of July.