The Hang Seng AH Premium Index hits more than a 6-year low

Since 2025, the Hang Seng Shanghai and Shenzhen Hong Kong Stock Connect AH share premium index has fluctuated downwards from 145 points. On September 22, this index hit a intraday low of 116.62 points, marking a over 6-year low. So far this year, the index has fallen by over 17%. In recent times, the convergence of AH share premiums can be attributed to two main factors: firstly, the acceleration of Southbound capital inflows, with overseas long-term funds continuously pouring into Hong Kong stocks in recent months, driving the Hong Kong stock market up and narrowing the AH share premium; secondly, this year's "A+H" listing boom has to some extent changed the structure of Hong Kong-listed companies, with leading enterprises like Ningde Times and Hengrui Medicine having significantly larger premiums for their H shares compared to their A shares, driving the index lower.