Who sets the price of Hong Kong stocks and who dominates the internal ETF market.

On August 15th, southbound funds net bought 35.876 billion Hong Kong dollars of Hong Kong stocks, setting a new high in net daily buying amount since the launch of the mutual market access mechanism. As of that day, the net buying amount of southbound funds in Hong Kong stocks this year has reached 938.9 billion Hong Kong dollars, continuing to refresh the annual record. It is worth noting that Hong Kong stock thematic ETFs play an important role in southbound funds. Wind data shows that, from the beginning of the year to now, among the 9 stock ETFs with net inflows of over 10 billion yuan, 6 are Hong Kong stock thematic ETFs. Funds continue to buy Hong Kong stocks through Hong Kong stock thematic ETFs, driving Hong Kong stock valuation repair, and gradually competing for pricing dominance in some industry sectors.