<div id="readability-page-1"><div>SPDB International published a report stating that as Middle East tensions eased in April, the HSI rebounded markedly. However, due to phased portfolio rebalancing, southbound funds recorded a net inflow of HKD56.54 billion into Hong Kong stocks last month, slowing from HKD61.4 billion in March. The activity level of southbound funds declined, with their average daily turnover share in the Hong Kong market edging down to 21.3% in April.By sector, apart from technology hardware benefiting from the AI industry chain, banks and telecom services with strong dividend attributes and valuation advantages were also favored by capital, while the internet retail sector saw position reductions by southbound funds.In April, southbound funds adopted a &#34;barbell&#34; strategy, favoring high-dividend stocks and quality growth names. Amid heightened market volatility, stocks with relatively large net southbound inflows mainly fell into two categories. One comprised defensive high-dividend plays, such as telecom leader CHINA MOBILE (00941.HK) +0.450 (+0.537%) Short selling $168.08M; Ratio 32.899% , energy leader CHINA SHENHUA (01088.HK) -0.920 (-1.923%) Short selling $130.18M; Ratio 69.913% and SINOPEC CORP (00386.HK) +0.070 (+1.522%) Short selling $57.96M; Ratio 24.438% , and banking leaders CCB (00939.HK) +0.060 (+0.683%) Short selling $528.25M; Ratio 33.175% and ICBC (01398.HK) +0.010 (+0.145%) Short selling $381.16M; Ratio 42.469% . The other category included quality growth stocks with solid earnings growth, such as hardware leaders XIAOMI-W (01810.HK) +0.640 (+2.101%) Short selling $1.71B; Ratio 51.074% and LENOVO GROUP (00992.HK) +0.230 (+1.976%) Short selling $230.10M; Ratio 34.546% , semiconductor leader ASMPT (00522.HK) +6.900 (+4.225%) Short selling $8.55M; Ratio 3.515% , trendy toy leader POP MART (09992.HK) -2.300 (-1.445%) Short selling $323.73M; Ratio 21.167% , and biopharmaceutical companies 3SBIO (01530.HK) -0.880 (-3.946%) Short selling $38.28M; Ratio 32.781% , AKESO (09926.HK) +3.600 (+2.817%) Short selling $33.31M; Ratio 8.085% and HANSOH PHARMA (03692.HK) -0.080 (-0.217%) Short selling $24.95M; Ratio 25.316% . It is worth noting that southbound funds also increased holdings in names that had seen sizable pullbacks and offered higher potential elasticity during the period, such as XIAOMI-W (01810.HK) +0.640 (+2.101%) Short selling $1.71B; Ratio 51.074% and KUAISHOU-W (01024.HK) +0.920 (+2.082%) Short selling $208.08M; Ratio 33.029% .SPDB International listed the top 20 Hong Kong stocks by net southbound inflows in April:StockApril Southbound Net Inflow CHINA MOBILE (00941.HK) +0.450 (+0.537%) Short selling $168.08M; Ratio 32.899% HKD7.93 billion CCB (00939.HK) +0.060 (+0.683%) Short selling $528.25M; Ratio 33.175% HKD6.09 billion POP MART (09992.HK) -2.300 (-1.445%) Short selling $323.73M; Ratio 21.167% HKD5.29 billion ICBC (01398.HK) +0.010 (+0.145%) Short selling $381.16M; Ratio 42.469% HKD5.01 billion BANK OF CHINA (03988.HK) +0.070 (+1.386%) Short selling $247.34M; Ratio 48.702% HKD4.18 billionXIAOMI-W (01810.HK) +0.640 (+2.101%) Short selling $1.71B; Ratio 51.074% HKD2.99 billion 3SBIO (01530.HK) -0.880 (-3.946%) Short selling $38.28M; Ratio 32.781% HKD2.68 billion CHINA SHENHUA (01088.HK) -0.920 (-1.923%) Short selling $130.18M; Ratio 69.913% HKD2.58 billion ABC (01288.HK) +0.020 (+0.341%) Short selling $166.84M; Ratio 38.249% HKD2.49 billion KB LAMINATES (01888.HK) +3.280 (+9.111%) Short selling $21.76M; Ratio 4.525% HKD2.17 billionCM BANK (03968.HK) +0.180 (+0.382%) Short selling $163.25M; Ratio 39.804% HKD2.09 billion LENOVO GROUP (00992.HK) +0.230 (+1.976%) Short selling $230.10M; Ratio 34.546% HKD2.05 billion KUAISHOU-W (01024.HK) +0.920 (+2.082%) Short selling $208.08M; Ratio 33.029% HKD1.91 billion SINOPEC CORP (00386.HK) +0.070 (+1.522%) Short selling $57.96M; Ratio 24.438% HKD1.9 billion AKESO (09926.HK) +3.600 (+2.817%) Short selling $33.31M; Ratio 8.085% HKD1.71 billionPICC P&amp;C (02328.HK) +0.020 (+0.143%) Short selling $42.40M; Ratio 29.210% HKD1.58 billion HUANENG POWER (00902.HK) +0.150 (+2.396%) Short selling $8.25M; Ratio 39.232% HKD1.4 billion ASMPT (00522.HK) +6.900 (+4.225%) Short selling $8.55M; Ratio 3.515% HKD1.14 billion HANSOH PHARMA (03692.HK) -0.080 (-0.217%) Short selling $24.95M; Ratio 25.316% HKD1.07 billion LI AUTO-W (02015.HK) -1.400 (-2.010%) Short selling $133.36M; Ratio 57.810% HKD530 million(wl/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-05 16:25.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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SPDB International reported that southbound funds recorded a net inflow of HKD56.54 billion into Hong Kong stocks in April, down from HKD61.4 billion in March. The average daily turnover share of these funds decreased to 21.3%. The report highlighted a preference for high-dividend stocks and quality growth names, with notable inflows into CHINA MOBILE, CCB, and XIAOMI. The top 20 stocks by net southbound inflows included CHINA MOBILE (HKD7.93 billion) and CCB (HKD6.09 billion).

AASTOCKS News

CHINA MOBILE

Hang Seng Index

CHINA SHENHUA

CSEC/China Shenhua

SINOPEC CORP

Sinopec Corp.

ICBC

XIAOMI-W

LENOVO GROUP

Lenovo Group

ASMPT

POP MART

3SBIO

AKESO

HANSOH PHARMA

KUAISHOU-W

BANK OF CHINA

Bank Of China

KB LAMINATES

CM BANK

China Merchants Bank

PICC P&C

PICC Group

HUANENG POWER

Huaneng Power International, Inc. Sponsored ADR Class N

LI AUTO-W

Li Auto

China Mobile

CN Mobile HK SDR 5to1

CHINA MOBILE-R

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

LENOVO GROUP-R

POP MART HK SDR 20to1

Sunshine Guojian Pharmaceutical

KUAISHOU-WR

BOC HONG KONG

Bank of China

SPDB International Lists Top 20 Southbound Net Buys in HK Stocks for Apr (Table)