Since December, 22, there have been more and more funds from Hong Kong stocks going south. In the past two weeks, there has been a trend to accelerate the inflow. Not only the funds from the south, but also foreign capital has joined the purchase of Hong Kong stocks. Now, who has the final say in the 5 trillion Hong Kong stocks depends on who has the pricing power. Personally, I think the accelerated inflow of funds from the south is obviously to win the pricing power of Hong Kong stocks, but historically speaking, it is obvious that.

first of all, from the data analysis, recently, funds from the south have been pouring into Xiangjiang. From January, although January is not over yet, the inflow amount has now exceeded 23 billion yuan, which is a record high. Up to now, the proportion of funds from the south to buy stocks has exceeded 3% of the market value of the whole Hong Kong stock market, which is undoubtedly amazing.

judging from the stock of funds, a brokerage report revealed that among the funds going south this time, insurance funds, Public Offering of Fund and self-employed individuals are the main forces. Because the proportion of public funds in Q3 last year was not high, the stock of funds going south this time may still be dominated by insurance funds. Therefore, this time, the main force in the competition for pricing power depends on insurance funds.

However, in the competition for pricing power, our country's institutional funds suffered a big loss in the liquor sector of A shares. At that time, foreign capital from the north increased its holdings in the liquor sector of A shares significantly, reaching its peak in March 219. During this period, domestic institutions kept holding positions repeatedly, which gave foreign capital from the north a great opportunity to win the pricing power in one fell swoop. After Q3, foreign sad funds began to reduce their holdings of liquor, but at this time, Chinese institutions were increasing their positions.

Therefore, the competition for pricing power should be sooner rather than later. From the perspective of the Hong Kong stock market in which funds from the south entered this time, it is basically in the industries of software, communication, energy and semiconductors. However, with the fierce attitude of funds from the south entering Hong Kong stocks, the funds from the north once again opposed the funds from the south. Since December, the allocation and transaction funds of foreign capital have started to sell. In particular, allocated funds account for a relatively high proportion of the Hong Kong stock index and market value, and their scale is several times higher than the existing market value of funds going south. If the subsequent funds going south do not keep up, not only will the pricing power not be taken down, but foreigners will also give people a wave of money. Therefore, the pricing power is really not so easy to grab.

personally, however, the pricing power must be contested, not only to compete, but also to find the weak sectors of the opponent to attack, and to find out the sectors with high value and good growth in the weak sectors for layout, instead of grabbing the pricing power all at once. At present, the Hong Kong stock market is still in the hands of foreign investors, and the funds from the south should come on.