HK Stock Connect Daily Report: METIS TECHBIO-P Falls 19.69% as Cornerstone Investor Lock-up Expires - 20261113

I. Market Overview

On November 13, 2026, the three major Hong Kong indices opened lower across the board and traded below the previous close throughout the session, with losses widening through the afternoon to close near the intraday low, and all three fell. The Hang Seng Index closed at 23,637.60, down 1.55%; the Hang Seng TECH Index closed at 3,813.19, down 3.02%; and the Hang Seng China Enterprises Index closed at 7,937.53, down 1.48%. Full-day turnover on the Hang Seng Index reached HKD 195.9 billion, below HKD 202.7 billion a day earlier.

On the board, among Stock Connect constituent stocks, CHINA RUYI rose 10.23%, IMPACT THERAP-B rose 8.64%, HIPINE rose 7.72%, EXTREME VISION rose 5.49% and SAMSONITE rose 5.30%; on the downside, METIS TECHBIO-P fell 19.69%, GUOQUAN fell 14.57%, KINWONG fell 13.73%, GALAXIS TECH fell 13.65% and VGT fell 13.46%. Consumer, pharmaceutical and selected AI application names advanced against the trend, while the AI hardware chain and recent listings lagged. Across the Stock Connect universe, 85 stocks rose, 564 fell and 18 were unchanged.

Southbound capital recorded net buying of HK$2.333 billion on the day, comprising net buying of HK$3.663 billion via Stock Connect (Shanghai) and net selling of HK$1.330 billion via Stock Connect (Shenzhen), with the two legs moving in opposite directions.

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. Southbound Net Buying Reaches HK$2.333 Billion as TENCENT Leads with HK$681 Million

On November 13, southbound capital recorded net buying of HK$2.333 billion, comprising net buying of HK$3.663 billion via Stock Connect (Shanghai) and net selling of HK$1.330 billion via Stock Connect (Shenzhen), with the two legs moving in opposite directions. By stock, TENCENT (00700.HK) led with HK$681 million of net buying, followed by Z.AI (02513.HK) at HK$570 million, BIRENTECH (06082.HK) at HK$295 million, ILUVATAR COREX (09903.HK) at HK$164 million and CIG (06166.HK) at HK$135 million. On the sell side, BABA-W (09988.HK) saw HK$1.879 billion of net selling, SMIC (00981.HK) HK$184 million, ZHONGJI INNOLIGHT (03308.HK) HK$183 million and YOFC (06869.HK) HK$138 million. BABA-W also ranked first by southbound turnover at HK$7.784 billion; no broad-based Hong Kong ETF appeared in the top ten by turnover.

2. Nvidia Management Change Hits Hong Kong AI Hardware Chain as KINWONG Falls 13.73%

On November 12 US time, Nvidia said its board had approved Jensen Huang's resignation as president, chief executive officer and board member effective immediately, with Chief Financial Officer Colette Kress named interim chief executive. Hong Kong AI hardware names fell sharply on November 13: KINWONG (03228.HK) dropped 13.73%, VGT (02476.HK) 13.46%, ZHONGJI INNOLIGHT (03308.HK) 9.39%, KB LAMINATES (01888.HK) 8.25%, YOFC (06869.HK) 7.28%, HUA HONG GRACE (01347.HK) 6.10% and CIG (06166.HK) 5.24%. Market commentary held that the management change prompted a reassessment of order visibility and strategic continuity for optical module, server and PCB suppliers deeply tied to Nvidia's GPU ecosystem.

3. METIS TECHBIO-P Falls 19.69% at the Bottom as 110 Million Cornerstone Shares Are Released

On November 13, METIS TECHBIO-P (07666.HK) fell 19.69% to HK$8.36 on turnover of HK$283 million, the largest decline among Stock Connect constituents. Under the previously disclosed cornerstone lock-up schedule, 110 million of its shares became tradable on November 13, 2026; the company listed on May 13, 2026, so the release comes six months after listing. Other recent listings also weakened, with GALAXIS TECH (02729.HK) down 13.65% and GUOQUAN (02517.HK) down 14.57%.

4. Oil Prices Rise on Trump Remarks, Lifting PETROCHINA 2.79%

On November 12 US time, US President Trump said on social media that the United States does not need a deal with Iran, reviving concerns about Middle East supply disruptions. Brent crude settled about 3.3% higher near USD 96 a barrel and WTI futures rose 2.6%. Hong Kong oil names outperformed on November 13: PETROCHINA (00857.HK) rose 2.79% to HK$10.33 on turnover of HK$1.053 billion, while CNOOC (00883.HK) closed flat at HK$22.84 on HK$845 million of turnover. Among ETFs, the Fullgoal S&P Oil & Gas Exploration and Production Selected Industry ETF(QDII) (513350) rose 3.08% and the Harvest product (159518) 2.89%, the two best performers among Stock Connect-related ETFs.

5. China-Korea Semiconductor ETF Tops Turnover at RMB 16.638 Billion as HK IT ETFs Fall More Than 3%

On November 13, turnover in Stock Connect-related ETFs stayed elevated. The Huatai-PB China Securities Han Stock Exchange China Korea Semiconductor ETF(QDII) (513310) fell 0.95% on RMB 16.638 billion of turnover and a turnover rate of 167.81%, ranking first; the GF CSI HK Innovative Drugs Industry ETF(QDII) (513120) fell 2.88% on RMB 5.562 billion, ranking second; and the E Fund CSI Overseas China Internet 50 ETF (513050) fell 2.81% on RMB 2.418 billion. On the decliner side, Hong Kong information technology ETFs fell together: the Yinhua CSI HK Equities Information Technology Integration ETF (159047) lost 3.60%, the Huaan product (513240) 3.59%, the Harfor product (520750) 3.53%, the Penghua product (159185) 3.46%, the ChinaAMC product (526000) 3.42% and the E Fund product (159196) 3.41%; the ChinaAMC CSI Shanghai-Shenzhen-Hong Kong Gold Industry Commodity ETF (159562) fell 3.41%.