In addition, mainland investors have become increasingly active in the Hong Kong stock market over the past decade, so the market sentiment of mainland investors has also become an important factor that cannot be ignored. Since the "connection" between China and Hong Kong in 2014, a large amount of RMB has flowed into the Hong Kong stock market. According to data from the Hong Kong Stock Exchange, the transaction value of RMB on the Hong Kong Stock Exchange in August 2022 is close to 1 trillion yuan, and its influence on Hong Kong stocks cannot be ignored.