Hong Kong Southbound Net Selling Hits HK$10B

The scale of the daily outflow signals a notable shift in cross-border sentiment, suggesting mainland investors are de-risking from Hong Kong exposure rather than adding. This matters because Southbound flows have been a key support for HK market liquidity; sustained selling could amplify downward pressure. The open question is whether this is a one-off positioning adjustment or the start of a broader trend, which would hinge on how volatility evolves.