According to CICC research, this week (January 6-10), southbound funds inflow totaled HK$48.91 billion, with an average daily inflow of HK$9.78 billion, an increase from the average daily inflow of HK$7.39 billion in the previous week. At the industry level, mainland banks, energy/raw materials and insurance sectors received the most southbound funds last week. In terms of individual stocks, southbound funds favored Tencent Holdings and China Mobile the most last week, but sold Meituan and Geely Automobile.