The premium of AH shares is at a reasonable level, large funds enter the Hong Kong market through public funds.

While the Hong Kong stock market continues to rise, the AH premium has reached a temporarily low level. There is some disagreement in the market as to whether Hong Kong stocks are overvalued. Some industry insiders believe that based on the current exchange rate and market environment, the AH premium is at a reasonable level. Following the medium-term trend of the appreciation of the Renminbi and the weakening of the US dollar, there is still room for the AH premium to further narrow. Hong Kong assets may benefit from ample global liquidity and foreign capital inflows. If the United States further cuts interest rates to improve global liquidity and if AI companies continue to deliver strong performance, it could support further upward movement in the Hong Kong stock market.