---
title: "[True Insight Institutional View] U.S. PPI exceeds expectations, Stock Connect (for Hong Kong) net inflow of 14.997 billion yuan on Friday"
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/38974386.md"
description: "Market Review: The US Producer Price Index (PPI) for January rose significantly by 2.9% year-on-year, notably higher than the market expectation of 2.6%; it increased by 0.5% month-on-month, also substantially exceeding the expected 0.3%. Furthermore, the core PPI, excluding food and energy, rose by 3.6% year-on-year, surpassing both Wall Street's forecast of 3.0% and the previous value of 3.3%, with a month-on-month growth of 0.8% also exceeding market expectations. This round of production-side inflation is comprehensively above expectations, with the core driving force mainly coming from rising costs in the service sector, reflecting that price pressures in labor-intensive segments remain stubborn..."
datetime: "2026-03-02T01:56:57.000Z"
locales:
  - [en](https://longbridge.com/en/topics/38974386.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/38974386.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/38974386.md)
author: "[真灼财经](https://longbridge.com/zh-CN/profiles/1067948.md)"
---

> 支持的语言: [English](https://longbridge.com/en/topics/38974386.md) | [繁體中文](https://longbridge.com/zh-HK/topics/38974386.md)


# [True Insight Institutional View] U.S. PPI exceeds expectations, Stock Connect (for Hong Kong) net inflow of 14.997 billion yuan on Friday

**Market Commentary**

The US Producer Price Index (PPI) for January rose significantly by 2.9% year-on-year, well above the market expectation of 2.6%; it increased by 0.5% month-on-month, also far exceeding the expected 0.3%. Furthermore, the core PPI, which excludes food and energy, rose by 3.6% year-on-year, surpassing both the Wall Street forecast of 3.0% and the previous value of 3.3%. The month-on-month growth also exceeded market expectations, rising by 0.8%. This round of production-side inflation was higher than expected across the board, with the core driver mainly coming from rising service sector costs, reflecting persistent price pressures in labor-intensive sectors. Additionally, geopolitical tensions continue to escalate. After the US and Israel launched attacks on Saturday, Iran attacked several allies in the Middle East in retaliation, such as Israel. Donald Trump warned that if Iran retaliates, the US will counterattack with unprecedented force. This will drive up oil and gold prices in the short term.

Southbound Stock Connect saw a net inflow of 14.997 billion yuan on Friday. Among them, $TRACKER FUND(02800.HK)  received the largest inflow, reaching 8.385 billion HKD; followed by $HSCEI ETF(02828.HK) . $YOFC(06869.HK)  recorded the largest net outflow, at 505 million HKD; followed by Kuaishou-W (01024.HK).

Source: KGI Securities

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