--- title: "Northbound Capital Trends | Northbound capital net sold HKD 1.574 billion, domestic investors continued to increase positions in Meituan, selling over HKD 500 million in CNOOC throughout the day" type: "News" locale: "en" url: "https://longbridge.com/en/news/293911858.md" description: "On July 27th, northbound trading recorded a net sell of HKD 1.574 billion, with a net sell of HKD 2.006 billion through the Shanghai-Hong Kong Stock Connect and a net buy of HKD 432 million through the Shenzhen-Hong Kong Stock Connect. The northbound trading mainly net bought Meituan, Z.AI, and KB LAMINATES, with purchases of HKD 1.216 billion, HKD 616 million, and HKD 604 million respectively; the main net sells were in SMIC, Alibaba, and CNOOC" datetime: "2026-07-27T09:52:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293911858.md) - [en](https://longbridge.com/en/news/293911858.md) - [zh-HK](https://longbridge.com/zh-HK/news/293911858.md) --- # Northbound Capital Trends | Northbound capital net sold HKD 1.574 billion, domestic investors continued to increase positions in Meituan, selling over HKD 500 million in CNOOC throughout the day According to Zhitong Finance APP, on July 27th in the Hong Kong stock market, northbound capital had a net sell of HKD 1.574 billion. Among them, the Shanghai-Hong Kong Stock Connect had a net sell of HKD 2.006 billion, while the Shenzhen-Hong Kong Stock Connect had a net buy of HKD 0.432 billion. The stocks with the highest net buy from northbound capital are Meituan-W (03690), Z.AI (02513), and KB LAMINATES (01888). The stocks with the highest net sell are SMIC (00981), Alibaba-W (09988), and CNOOC (00883). ![图片.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260727/1785145591207966.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Active trading stocks in Shanghai-Hong Kong Stock Connect ![图片.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260727/1785145605700990.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Active trading stocks in Shenzhen-Hong Kong Stock Connect Meituan-W (03690) received a net buy of HKD 1.216 billion. Meituan's all-scenario AI Agent platform—CatPaw has officially launched. CatPaw provides an out-of-the-box all-scenario AI intelligent workstation and enterprise-level Agent development hosting capabilities. Currently, CatPaw has been widely implemented within Meituan: covering a total of 90,000 employees, building 30,000 Agents, and completing validation in multiple real business scenarios. Z.AI (02513) received a net buy of HKD 0.616 billion. Morgan Stanley stated that Z.AI's current GLM-5.2 model remains among the top frontier models in China, and the GLM-5.3 and the new 2T+ flagship model are expected to be released in the coming months. The firm believes that Z.AI has the capability to maintain its domestic leadership in the next model cycle, thereby supporting continuous ARR expansion in the current market environment with limited computing power. KB LAMINATES (01888) received a net buy of HKD 0.604 billion. According to CCTV Finance, driven by the explosive demand for AI computing power, high-end printed circuit boards (PCBs) are in short supply, and prices continue to rise, with leading manufacturers' orders already locked in until 2027. A representative from a mainboard manufacturing company mentioned that PCB price increases started with high-speed PCBs, which are mainly used in large computing power server motherboards, and the price of high-speed PCBs has already increased by more than three to four times Tencent (00700) received a net purchase of HKD 305 million. The National Press and Publication Administration recently announced the 7th batch of game licenses for this year, issuing a total of 197 game licenses, including 193 domestic games and 4 imported games, marking the largest single batch approval in the past five years and exceeding the average levels of the first half of 2026 and 2025. Citigroup believes that this approval is beneficial for all game developers and further consolidates a healthy supply pipeline in the industry. Changfei Optical Fiber Cable (06869) faced a net sell of HKD 252 million. Jefferies believes that although AI and geopolitical conflicts are driving fiber demand, the U.S. supply chain is also facing severe shortages. However, as China and the global market significantly expand production, the increase in supply will gradually eliminate the shortage, and Changfei Optical Fiber Cable may face the risk of losing market share, with profits in 2026 to 2027 potentially reaching a cyclical peak. CNOOC (00883) faced a net sell of HKD 519 million. The U.S. and Iran have paused mutual strikes, causing WTI crude oil futures prices to drop over 7%. Additionally, Macquarie released a research report predicting that CNOOC's profits for the first half of the year may fall below market expectations, mainly due to the widening discount of its realized oil prices compared to Brent futures and potential impairment impacts. The bank forecasts the group's net profit for the first half of the year to be RMB 83.9 billion, a year-on-year increase of 21%. Alibaba-W (09988) faced a net sell of HKD 675 million. On July 20, the European Commission announced a fine of EUR 550 million (approximately RMB 4.25 billion) against Alibaba's cross-border e-commerce platform AliExpress under the EU Digital Services Act (DSA), setting the highest penalty record since the DSA came into effect. Notably, the stock performance of Google and Tesla after their latest earnings reports demonstrates that AI trading has shifted from a "story-driven" phase to a "cash flow validation" phase. In addition, Hua Hong Semiconductor (00981) received a net purchase of HKD 117 million. Meanwhile, Zhaoyi Innovation (03986) and SMIC (00981) faced net sells of HKD 79.75 million and HKD 698 million, respectively ### Related Stocks - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [BABX.US](https://longbridge.com/en/quote/BABX.US.md) - [KBAB.US](https://longbridge.com/en/quote/KBAB.US.md) - [BABO.US](https://longbridge.com/en/quote/BABO.US.md) - [BABU.US](https://longbridge.com/en/quote/BABU.US.md) - [BABW.US](https://longbridge.com/en/quote/BABW.US.md) - [BBYY.US](https://longbridge.com/en/quote/BBYY.US.md) - [02513.HK](https://longbridge.com/en/quote/02513.HK.md) - [00883.HK](https://longbridge.com/en/quote/00883.HK.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [01888.HK](https://longbridge.com/en/quote/01888.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [688981.CN](https://longbridge.com/en/quote/688981.CN.md) - [600938.CN](https://longbridge.com/en/quote/600938.CN.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [601869.CN](https://longbridge.com/en/quote/601869.CN.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [603986.CN](https://longbridge.com/en/quote/603986.CN.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) - [HSMD.SG](https://longbridge.com/en/quote/HSMD.SG.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [80883.HK](https://longbridge.com/en/quote/80883.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [03986.HK](https://longbridge.com/en/quote/03986.HK.md) ## Related News & Research - [How to Play BABA Stock as Alibaba Unveils New Qwen AI Model](https://longbridge.com/en/news/293494011.md) - [China says it has expressed its strong dissatisfaction to EU over AliExpress fine](https://longbridge.com/en/news/293431667.md) - [An unprecedented AI out-of-control incident: China steps in to save the day.](https://longbridge.com/en/news/293559585.md) - [OpenAI admits AI model hacked Hugging Face, Chinese open-source AI helped investigate](https://longbridge.com/en/news/293567789.md) - [Alibaba reportedly tests standalone Qwen Office product](https://longbridge.com/en/news/293707248.md)