International investors are expecting global funds to flow back into the Chinese mainland equity market when the domestic A-share market opens for trading on Tuesday following the National Day Golden Week holiday.

With the mainland stock markets having been shut since last week, the ongoing market frenzy sparked by the country’s coordinated stimulus package has boosted Hong Kong’s Hang Seng Index, which reached over 22,700 points — the highest level in two and half years.

Investors feel motivated to enter the market. The HSBC mobile app securities trading service was reportedly out of order due to technical problems on Monday morning; users were therefore unable to conduct transactions through the app’s online investment services. Trading services were resumed in the afternoon.

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The bullish market sentiment has also attracted many new people to open securities trading accounts in Hong Kong that facilitate the trading of A-shares and A-share exchange-traded funds. Tiger Brokers (HK) said that from Sept 23-29, the number of new accounts opened on its platform increased by 73.4 percent week-on-week. Many new users in Hong Kong even opened accounts on National Day (Oct 1).

“As international investors have regained confidence in Hong Kong and mainland stock markets, overseas investors are expected to absorb Hong Kong and mainland shares. We believe the Hong Kong Stock Exchange has the capability to handle large quantities of transactions and no abnormality has been found in the market for the time being,” Hong Kong Securities and Futures Commission Chief Executive Officer Leung Fung-yee said.

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The Shanghai Stock Exchange said, starting Monday, it will extend the time for accepting designated transaction declaration instructions, with the aim of further improving the efficiency of designated trading business. All member units and other market participants will make relevant business and technical preparations in a timely manner to ensure the smooth implementation of adjustments.

Fund managers such as Goldman Sachs and Fidelity International said they believe the recent stock market rebound can be sustained as many global investors will continue to pour their money into mainland shares for portfolio rebalancing.

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Mali Chivakul, emerging markets economist at Bank J. Safra Sarasin, said speeding up the destocking program in the property sector, addressing unfinished housing projects, giving full support to the private sector through clear initiatives, and launching a meaningful fiscal program would be essential to arrest the housing decline and boost the economy.

“These four measures together should help lift household sentiment, stop the housing decline and release some precautionary savings. A fiscal boost alone is likely not adequate as the fiscal multiplier would be dampened if the housing outlook and private sector job prospects remain subdued,” Chivakul said.

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Hong Kong’s Hang Seng Index extended its rally on Monday, soaring 1.6 percent to reach 23,099 points, with a market turnover of HK$296.8 billion ($38.2 billion). The Hang Seng TECH Index jumped 3.1 percent to close at 5,386, while the Hang Seng China Enterprise Index gained 2.1 percent to close at 8,330.

During the National Day Golden Week holiday, the Hang Seng Index rose by 9.3 percent compared to the 21,133 level recorded on Sept 30. Since the announcement of the stimulus measures on Sept 24, the HSI has rallied 26.5 percent.

According to Hong Kong Stock Exchange, the average daily trading volume of Hong Kong stocks in September was HK$169.2 billion, a month-on-month increase of 77 percent and a year-on-year hike of 87 percent. As of the end of September, the market value of the Hong Kong stock market was HK$36.9 trillion, up 16 percent month-on-month and 15 percent year-on-year.