(Bloomberg) -- Chinese investors, an increasingly influential force in Hong Kong’s stock market, have been scooping up state-owned enterprises in their recent buying spree. 

Eight out of the top ten stocks purchased though the trading links with the city this year are SOEs, including Bank of China and CNOOC Ltd., according to data compiled by Bloomberg. That’s a change from earlier days when mainland traders were typically big buyers of Chinese tech giants listed offshore.

The preference shift was likely driven by a frenzy over dividend stocks, which drove onshore counterparts to overheated levels. A total of HK$203 billion ($25.9 billion) worth of equities have been purchased via the links this year, as mainland buyers boosted holdings in almost every session since Feb. 7. 

--With assistance from Jason Siu.

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