Guosen Securities Reveals Top 10 HK Stocks with Highest Foreign Capital Inflows and Outflows in Q4 2025 (Table)

The article from Guosen Securities provides insights into the foreign capital flows in the Hong Kong stock market for the fourth quarter of 2025. The report lists the top ten stocks with the largest inflows and outflows of foreign capital, highlighting the forecasted net inflow and outflow amounts for each stock. The reasons for the analyst ratings can be inferred from the data presented: 1. Top Stocks with Inflows: Stocks like INNOVENT BIO, GCL TECH, and HUA HONG SEMI show significant foreign capital inflows, indicating positive investor sentiment and confidence in these companies. The presence of short selling data also suggests that while there is optimism, some investors are hedging against potential declines. 2. Top Stocks with Outflows: Conversely, stocks such as XIAOMI-W and MEITUAN-W are experiencing notable outflows, which may reflect negative sentiment or concerns about their future performance. The high short selling ratios for these stocks indicate that investors are betting against them, further supporting the bearish outlook. 3. Market Sentiment: The overall trends in inflows and outflows, along with the short selling ratios, provide a snapshot of market sentiment towards these stocks. Stocks with high inflows and lower short selling ratios are likely viewed more favorably, while those with high outflows and significant short selling are seen as riskier investments. In summary, the analyst ratings are influenced by the observed foreign capital movements, short selling activity, and the overall market sentiment towards the respective stocks.

The analyst rating from UBS for HSBC HOLDINGS (00005.HK) is maintained at Neutral with a target price of GBP10.35. The reason for this rating is that while UBS is more positive on the privatization deal involving Hang Seng Bank, they did not alter the ultimate value of HSBC HOLDINGS. This suggests that UBS sees potential benefits from the transaction but does not expect it to significantly change the overall valuation of HSBC in the long term.