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The total turnover of the Southbound Stock Connect in October was 1.7 trillion Hong Kong dollars, a 64% increase month-on-month.
In October, the total trading volume of the northbound Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect was nearly 4.6 trillion RMB, a significant increase of 108% compared to September; the total trading volume of the southbound Hong Kong Stock Connect was 1.7 trillion Hong Kong dollars, a 64% increase from September.
The net inflow of tracker fund of Hong Kong Stock Connect was 8.944 billion Hong Kong dollars.
Northbound net inflow of tracker fund of hong kong (02800.HK), Tencent (00700.HK), and Meituan (03690.HK) reached 8.944 billion Hong Kong dollars, 0.759 billion Hong Kong dollars, and 0.621 billion Hong Kong dollars, respectively. Northbound net outflow of Semiconductor Manufacturing International Corporation (00981.HK) reached 26.78 million Hong Kong dollars. The top active stocks with the highest net fund inflow through Stock Connect (Shanghai) were tracker fund of hong kong (02800.HK) at 3.79 billion Hong Kong dollars, while the top stocks with the highest net fund outflow were Semiconductor Manufacturing International Corporation (00981.HK) at 0.129 billion Hong Kong dollars. The top active stocks with the highest net fund inflow through Stock Connect (Shenzhen) were tracker fund of hong kong.
Analysis on Tencent (00700.HK) investment rating and target price (Table)
Tencent (00700.HK) will announce its performance for the third quarter ending September next Wednesday (the 13th), driven by the continued growth of gaming and video streaming businesses and the expansion of gross margin. According to a compilation of forecasts from 11 brokerages, Tencent's net profit under non-International Financial Reporting Standards for the third quarter of this year is expected to be between 51.341 billion and 57 billion RMB, compared to 44.921 billion RMB in the same period last year, representing an increase of 14.3% to 26.9% year-on-year, with a median of 55.211 billion RMB, a 23% increase year-on-year. Based on forecasts from 7 brokerages, Tencent's net profit for the third quarter of this year is estimated to be between 42.5 billion and 45.6 billion.
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