Securities Daily: domestic and foreign funds rushing in resonance driving steady increase in Hong Kong stock liquidity.

The current improvement in the capital market in Hong Kong is showing characteristics of both domestic and foreign capital "resonance". On one hand, the market believes that the Federal Reserve entering an interest rate cut cycle has provided conditions for changes in international capital flows; on the other hand, the Southbound funds act as a "stabilizer" providing incremental funding support for Hong Kong stocks, both of which have jointly boosted the liquidity level of Hong Kong stocks steadily. The continuous large-scale inflow of funds into Hong Kong stocks is the result of multiple factors such as the attractiveness of the valuation of Hong Kong stocks, liquidity expectations, and scarcity of assets. It not only reflects the investment value of the current Hong Kong stock market, but also contains deep-seated capital flow logic, releasing multiple positive signals.