Continuous progress in dividend distribution and buybacks, with brokerages taking multiple measures to boost investor confidence.

Since August, southbound capital has continued to show a net inflow trend, and the funding environment in the Hong Kong stock market has been steadily improving. This year, aside from a period of net outflow in May, southbound capital has maintained strong allocation momentum overall, with net buy amounts reaching HKD 27.111 billion and HKD 62.869 billion in June and July, respectively, indicating a clear trend of capital inflow. At the same time, the major indices of the Hong Kong stock market have been recovering recently. From June 26 to August 4, the Hang Seng Index and the Hang Seng Tech Index have respectively increased by 12.03% and 10.89%, with market risk appetite gradually rebounding. Analysts believe that with the improved flow of foreign capital, continued strengthening of southbound capital, and ongoing valuation recovery in Hong Kong stocks, the funding environment is becoming an important factor supporting the performance of Hong Kong stocks. Currently, capital is primarily flowing into sectors such as information technology, discretionary consumption, and finance, with growth in technology and core assets still being key areas for capital allocation. However, institutions also caution that changes in overseas liquidity, verification of AI industry chain transactions, and global risk factors may still disrupt the market. In the short term, Hong Kong stocks may continue to show a pattern of fluctuating recovery, and attention should be paid to structural opportunities arising from changes in capital flow.