[Southbound funds have net purchased nearly HK$430 billion during the year. Institutions say the overall trend of Hong Kong stocks is expected to improve] September 30th. Since the beginning of this year, southbound funds have significantly increased their positions in the Hong Kong stock market and are one of the most important sources of incremental funds in the Hong Kong stock market. Wind data shows that as of September 29, the cumulative net inflow of southbound funds this year has been nearly HK$430 billion. In the past month, information technology, industry, finance and other industries have been favored by southbound funds, with the net buying amount leading the way. Institutional insiders believe that in the short term, recurring overseas liquidity expectations and fluctuations in valuations of the technology sector will still be the main disturbing factors for the Hong Kong stock market. Looking forward to the market outlook, the overall trend of the Hong Kong stock market is still expected to be positive, catalyzed by improved liquidity expectations, improved profitability, and improved valuation performance/price ratio.