(March 10): Mainland Chinese investors bought an unprecedented HK$29.6 billion (US$3.8 billion or RM16.9 billion) worth of Hong Kong stocks on a net basis on Monday.

That surpassed the previous record seen in early 2021, according to Bloomberg-compiled data going back to late 2016, when trading links with the financial hub began.

The inflows from Chinese buyers came as the Hang Seng China Enterprises Index slid 2.1% on Monday. That followed a 5.9% rally in the previous week.

“Mainland funds are keen on buying at the dips, as they still believe most of the Hong Kong tech stocks are still undervalued,” said Jason Chan, a senior investment strategist at Bank of East Asia.

“The major difference of views between foreign investors and Chinese mainland investors is that global investors are more concerned over the geopolitical risks, and mainland investors are speculating more on favourable policy towards the AI industry.”

Uploaded by Tham Yek Lee