Core Viewpoint - The recent surge in the Hong Kong stock market has led several QDII funds, including the top-performing Huatai-PineBridge Hong Kong Advantage Select, to suspend subscriptions to protect the interests of existing investors [1][4][11]. Group 1: Fund Performance and Actions - Huatai-PineBridge Hong Kong Advantage Select (QDII) reported a year-to-date net value increase of 139.12% as of July 28, making it the top fund in the market [1][6]. - Multiple QDII funds have announced restrictions or suspensions on subscriptions and regular investments, including those tracking European and Japanese markets, to ensure stable operations and protect investor interests [3][4]. - The suspension of subscriptions is attributed to excessive investor enthusiasm, leading to tight foreign exchange quotas [1][6][11]. Group 2: Market Trends and Investor Behavior - The QDII fund sector has seen a significant increase in total scale, reaching 683.77 billion yuan by the end of June, up from 611.32 billion yuan at the end of last year, despite a slight decrease in the number of funds [9]. - The inflow of funds into cross-border ETFs, particularly those related to Hong Kong stocks, has been notable, with significant net inflows recorded for various ETFs [10]. - The current market environment is characterized by a "barbell strategy," where investors are allocating funds to both dividend stocks and growth stocks, influenced by liquidity conditions and risk preferences [10].