HK Stock Connect Daily Report: REALORD TECH Plummets 89.81% as Southbound Net Selling Reaches HK$9.218 Billion - 20261022

I. Market Overview

On October 22, 2026, the three major Hong Kong indices opened lower and extended losses, with the opening level marking the intraday high for all three. The Hang Seng Index opened at 23,513.79, down 0.58%, hit a low of 22,879.11 and closed at 22,934.68, down 3.03% and below the 23,000 mark; the Hang Seng TECH Index opened at 3,949.02, down 1.15%, hit a low of 3,781.15 and closed at 3,793.93, down 5.03%, breaking both the 3,900 and 3,800 levels; and the Hang Seng China Enterprises Index opened at 7,887.51, down 0.70%, and closed at 7,689.19, down 3.20%. Full-day turnover on the Hang Seng Index reached HKD 256.1 billion, up about 45% from HKD 176.6 billion a day earlier.

On the board, among Stock Connect constituent stocks, BRAINAURORA-B rose 27.15%, ZHAOWEI rose 21.29%, KEYTOP PARKING rose 10.00%, SHANDONG MOLONG rose 7.54% and UISEE TECH rose 3.21%; on the downside, REALORD TECH fell 89.81%, DEEPEXI TECH fell 34.01%, QUANTGROUP fell 21.97%, BLOKS fell 21.38% and UNISOUND fell 19.15%. Pharmaceutical, machinery and smart parking names bucked the trend, while AI application, recently listed and consumer names retreated sharply.

Southbound capital recorded net selling of HK$9.218 billion on the day, comprising net selling of HK$3.225 billion via Stock Connect (Shanghai) and net selling of HK$5.993 billion via Stock Connect (Shenzhen), with both channels selling on a net basis and Shenzhen roughly 1.9 times the Shanghai figure.

II. HK Stock Connect Stock Rankings

2.1 HK Stock Connect Stock Gainers and Decliners

Source: Wind, HKEX. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

2.2 HK Stock Connect Active Stocks (ranked by southbound turnover)

Source: Wind, HKEX. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

III. HK Stock Connect-related A-share ETF Rankings

3.1 HK Stock Connect-related A-share ETF Gainers and Decliners

Source: Wind. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

3.2 HK Stock Connect-related A-share ETF Active Rankings (ranked by turnover)

Source: Wind. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

IV. Industry and Corporate Updates

1. REALORD TECH Plunges 89.81% to Top the Stock Connect Decliners as Southbound Funds Buy HK$251 Million

On October 22, REALORD TECH (01196.HK) opened at HKD 2.6 and fell in a straight line, touching a low of HKD 0.246 before closing at HKD 0.275, down 89.81%, the largest decline among Stock Connect stocks on the day. Intraday amplitude reached 90.15% on a turnover rate of 60.53%, with HKD 1.473 billion traded. Southbound capital bought a net HK$251 million of the stock, the second-largest net purchase of the session. Public disclosure filings show that on October 15, 2026, independent non-executive director Yu Lianghui sold 400,000 shares on-market at an average price of HKD 3.12, for about HKD 1.248 million. In the first half of 2026, environmental protection accounted for 76.46% of the company's revenue, financial services 13.48% and property investment 6.94%.

2. Southbound Net Selling Reaches HK$9.218 Billion, the Seventh Consecutive Trading Day of Outflows

On October 22, southbound capital recorded net selling of HK$9.218 billion, comprising net selling of HK$3.225 billion via Stock Connect (Shanghai) and HK$5.993 billion via Stock Connect (Shenzhen). Based on daily data, southbound funds have now sold on a net basis for seven consecutive trading days since October 13. At the stock level, TENCENT (00700.HK) topped southbound turnover at HK$12.838 billion with a net purchase of HK$489 million; REALORD TECH (01196.HK) drew a net HK$251 million and CSOP Hang Seng TECH Index ETF (03033.HK) a net HK$192 million. On the sell side, ALIBABA-W (09988.HK) led with net selling of HK$1.677 billion, followed by SMIC (00981.HK) at HK$911 million, WUXI BIO (02269.HK) at HK$642 million, HUA HONG GRACE (01347.HK) at HK$423 million and YOFC (06869.HK) at HK$383 million. Stock Connect turnover reached about HK$98.2 billion, or 38.4% of main board turnover.

3. BLOKS Falls 21.38% as Its Controlling Shareholder Sells a 1.56% Stake at a Discount via Block Trade

On October 22, BLOKS (00325.HK) announced that Smart Bloks, a member of its controlling shareholder group, sold 3.849 million shares through a block trade at HKD 65.28 per share, representing about 1.56% of total issued shares and raising about HK$251 million. The stock opened at HKD 67.9, touched an intraday low of HKD 53.3 and closed at HKD 54.6, down 21.38% with intraday amplitude of 21.09% and turnover of HK$707 million, the lowest close since August 12.

4. Middle East Supply Risks Lift Oil and Gas ETFs Against the Trend

On October 22, international crude prices rose sharply amid heightened Middle East geopolitical tension. Yemen's Houthi forces attacked Saudi oil fields and airports, the US State Department ordered the departure of non-emergency personnel from Saudi Arabia, and shipping risk through the Strait of Hormuz increased. Oil and gas ETFs listed in the A-share market led gains: Fullgoal S&P Oil & Gas Exploration and Production Selected Industry ETF(QDII) (513350) rose 3.12% with RMB 2.598 billion of turnover and a 202.40% turnover rate, while Harvest S&P Oil & Gas Exploration and Production Selected Industry ETF(QDII) (159518) rose 1.62% with RMB 1.295 billion of turnover. Tracking the S&P Oil & Gas Exploration & Production Select Industry Index, the two ranked first and second among HK Stock Connect-related ETFs on the day.

5. Hang Seng TECH and Innovative Drug ETFs Fall on Heavy Volume as the China-Korea Semiconductor ETF Leads Turnover at RMB 9.090 Billion

On October 22, HK Stock Connect-related ETFs declined broadly. GF CSI HK Innovative Drugs Industry ETF(QDII) (513120) fell 6.66% with RMB 6.801 billion of turnover, Wanjia CSI HK Equities Innovative Drugs ETF (520700) fell 6.52%, ChinaAMC CSI HK Equities Information Technology Integration ETF (526000) fell 6.44%, ChinaAMC Hang Seng Technology ETF(QDII) (513180) fell 5.19% with RMB 3.261 billion of turnover and Huatai-PB CSOP Hang Seng Technology Index ETF(QDII) (513130) fell 5.07% with RMB 2.895 billion. By turnover, Huatai-PB China Securities Han Stock Exchange China Korea Semiconductor ETF(QDII) (513310) led with RMB 9.090 billion, falling 5.04% on a 93.10% turnover rate.