According to the Hong Kong Stock Connect news on September 5th, since the expansion of the Shanghai and Shenzhen-Hong Kong Connect ETF targets on July 22nd, market activity and liquidity have gradually improved. In the first month after the expansion (from July 22nd to August 21st), the average daily trading volume of Northbound ETF Connect increased by 11% compared to the previous month, while the Southbound ETF Connect more than doubled from the previous month, reflecting the positive impact of the expansion of ETF targets on market trading. In August, the total trading volume of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect was RMB 2.1 trillion, while the total trading volume of the Southbound Hong Kong Stock Connect was HKD 622.5 billion. In the first eight months of this year, the monthly total trading volume of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect both exceeded RMB 2 trillion. As for ETF Connect, the average daily trading volume of the Southbound ETF Connect in August was approximately HKD 2.8 billion, an increase of about 64% from July. The average daily trading volume of the Northbound ETF Connect was RMB 1.5 billion, an increase of about 22% from July. The top active stocks in the Hong Kong Stock Connect in August were Tencent Holdings (00700), Ping An Insurance (02800), and CNOOC (00883) for both the Shanghai and Shenzhen Connect Southbound flows.