As of September 22, the latest bull-to-bear certificate distribution ratio for the Hang Seng Index stands at 49:51, according to market positioning data.

Data from the CITIC Securities bull-bear certificate street distribution chart shows that the heavy accumulation zone and the area with the largest increase in bear certificates are both in the 25,300-25,399 range. The latest bear certificate count in this range is 953, representing an increase of 199 certificates compared to the previous trading day.

For bull certificates, the heavy accumulation zone is in the 24,300-24,399 range, where the latest count stands at 723 certificates, down 194 from the previous trading day. Meanwhile, the area with the largest net increase in bull certificates is the 24,700-24,799 range, with the latest count at 241 certificates, up 131 from the prior session.