Southbound funds dance with listed company buybacks, and the Hong Kong stock market's volatile upward trend is expected to continue.

Jin10 data reported on August 20, Wind data shows that as of August 19, the cumulative net inflow of southbound funds has exceeded 950 billion HKD this year, setting a historical record for annual net inflow. As of August 18, the total repurchase amount of Hong Kong-listed companies has exceeded 100 billion HKD this year. Driven by the substantial inflow of southbound funds and the active repurchases by Hong Kong-listed companies, the Hong Kong stock market has performed remarkably this year. As of the market close on August 19, the Hang Seng Index has risen over 25% cumulatively, and the Hang Seng Tech Index has risen over 24% cumulatively. Recently, the Hong Kong stock market has experienced certain fluctuations. Industry insiders believe that since August, the fluctuation center of the Hong Kong stock index is still rising, but the volatility has significantly increased. This is currently a window period for position adjustment, and they are not pessimistic about the subsequent market trends.