With tariffs back on the radar, short-term volatility risks for Hong Kong stocks are expected to escalate, while the medium- to long-term uptrend remains, Soochow Securities published a report as opining. The broker also listed the top ten net buys and sells of Hong Kong stocks by Southbound funds over the past two weeks (September 29 to October 10):

1) Top 10 Net Buys of Hong Kong Stocks by Southbound Funds over the Past 2 Weeks

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Shares | Net Inflows over the Past 2 Weeks ($)
BABA-W (09988.HK)  -6.800 (-4.218%)    Short selling $1.99B; Ratio 9.592%   | 3.629 billion
TENCENT (00700.HK)  -12.000 (-1.935%)    Short selling $1.24B; Ratio 10.947%   | 1.134 billion
XIAOMI-W (01810.HK)  -1.740 (-3.648%)    Short selling $1.86B; Ratio 15.106%   | 1.055 billion
HUA HONG SEMI (01347.HK)  -5.650 (-6.937%)    Short selling $360.70M; Ratio 6.900%   | 934 million
ZIJIN MINING (02899.HK)  -0.420 (-1.272%)    Short selling $823.12M; Ratio 27.352%   | 635 million
KUAISHOU-W (01024.HK)  -3.050 (-4.013%)    Short selling $894.46M; Ratio 29.243%   | 622 million
SMIC (00981.HK)  -4.800 (-6.495%)    Short selling $1.36B; Ratio 11.682%   | 614 million
CMOC (03993.HK)  -0.860 (-5.566%)    Short selling $85.89M; Ratio 8.185%   | 471 million
MEITUAN-W (03690.HK)  -4.250 (-4.304%)    Short selling $2.07B; Ratio 29.965%   | 466 million
CALB (03931.HK)  -2.580 (-8.134%)    Short selling $1.31M; Ratio 0.468%   | 372 million

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2) Top 10 Net Sells of Southbound Funds from Hong Kong Stocks in the Past 2 Weeks

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Shares | Net Outflow in the Past 2 Weeks ($)
CHINA MOBILE (00941.HK)  -0.400 (-0.467%)    Short selling $389.36M; Ratio 25.522%   | -629 million
CHINA TELECOM (00728.HK)  -0.020 (-0.348%)    Short selling $102.41M; Ratio 21.533%   | -352 million
CCB (00939.HK)  0.000 (0.000%)    Short selling $929.31M; Ratio 31.992%   | -342 million
PICC P&C (02328.HK)  -0.120 (-0.639%)    Short selling $195.11M; Ratio 26.303%   | -288 million
SINOPEC CORP (00386.HK)  -0.050 (-1.222%)    Short selling $197.09M; Ratio 25.910%   | -215 million
PETROCHINA (00857.HK)  -0.110 (-1.480%)    Short selling $219.42M; Ratio 34.561%   | -142 million
YOFC (06869.HK)  -3.960 (-9.744%)    Short selling $47.38M; Ratio 3.349%   | -139 million
GEELY AUTO (00175.HK)  -0.870 (-4.519%)    Short selling $324.26M; Ratio 22.125%   | -139 million
HAIER SMARTHOME (06690.HK)  -0.300 (-1.237%)    Short selling $102.32M; Ratio 22.672%   | -107 million
PING AN (02318.HK)  -1.800 (-3.243%)    Short selling $694.20M; Ratio 28.933%   | -106 million
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-10-17 16:25.)