Southbound Net Selling Reaches 5B Yuan

The scale of southbound net selling signals sustained repositioning away from Hong Kong-listed equities through the Stock Connect channel, which could weigh on market liquidity and sentiment in the near term. This matters for participants tracking cross-border capital flows, as persistent outflows may reflect broader risk-off positioning or rotation into other assets. The key question is whether this pace of selling continues or stabilizes, as that will indicate the durability of the trend and its potential impact on Hong Kong market depth.