Key Takeaways:
- KNOWLEDGE ATLAS drew HKD4.7B in net Southbound inflow on July 13
- KB LAMINATES lost HKD3.2B as its stock plunged 18.7%
- Total Southbound turnover hit HKD127.23B with net flows balanced
Quay lại
Knowledge Atlas draws HKD4.7B as Southbound flows diverge sharply
Southbound Stock Connect flows diverged sharply on July 13, with HKD4.7 billion entering KNOWLEDGE ATLAS (02513.HK) while HKD3.2 billion exited KB LAMINATES (01888.HK).
On the Shanghai-Hong Kong leg, KNOWLEDGE ATLAS recorded the highest net inflow at HKD2.4 billion, while KB LAMINATES saw the largest net outflow at HKD817.4 million, exchange data showed. The Shenzhen-Hong Kong leg followed a similar pattern, with KNOWLEDGE ATLAS attracting HKD2.4 billion and KB LAMINATES shedding HKD2.4 billion.
The divergent flows coincided with sharp stock price dislocations. KB LAMINATES tumbled 18.7%, KINGBOARD HLDG (00148.HK) fell 19.2%, and YOFC (06869.HK) dropped 12.6%. KNOWLEDGE ATLAS edged up 0.3%. BABA-W (09988.HK) and SMIC (00981.HK) also drew net inflows of HKD583.6 million and HKD479.5 million, respectively.
Total Southbound Trading turnover reached HKD127.23 billion, with net outflows at zero — the selling in laminates and fiber stocks was offset by buying in AI and semiconductor names. The extreme divergence points to a sector rotation among mainland investors rotating out of traditional manufacturing into AI-related plays, with KNOWLEDGE ATLAS emerging as the primary beneficiary.
Short selling data showed elevated activity in the outflow names. KB LAMINATES had HKD345.7 million in short sales, representing 4.1% of turnover, while YOFC saw HKD534.9 million shorted at an 8.8% ratio. KNOWLEDGE ATLAS short selling was minimal at HKD137.3 million, or 0.9% of turnover, suggesting the buying was driven by genuine long demand.
The scale of the rotation raises questions about whether the selloff in laminates and fiber names reflects company-specific triggers or a broader shift in mainland fund allocation. KB LAMINATES and KINGBOARD HLDG both lost about a fifth of their market value in a single session, moves typically associated with earnings disappointments or regulatory actions. Investors will watch for corporate disclosures in the coming days to confirm the trigger.
This article is for informational purposes only and does not constitute investment advice.
[1] HKD4.7B Southbound Trading Net Inflow to KNOWLEDGE ATLAS[2] Hong Kong-listed PCB-related stocks collectively declined, with KB Laminate Holdings falling over 17% and KB Group dropping more than 15%. - 富途牛牛[3] Hong Kong Market Movers | PCB-related stocks plunge across the board; Jensen Huang denies rumors of Rubin Ultra delay; institutions note reduced crowding in AI hardware - 富途牛牛
