Underlying Index Performance: The ETF 512120.SHG tracks a specific underlying index. Fluctuations in this index directly impact the ETF's price. A rise in the index value typically leads to an increase in the ETF price, and vice versa.

Supply and Demand: Market forces of supply and demand also significantly influence the ETF's price. Higher demand for the ETF pushes the price up, while increased selling pressure can cause it to fall.

Market Sentiment: Overall market sentiment toward the assets represented in the underlying index can affect the ETF's price. Positive investor confidence generally results in higher prices, and negative sentiment leads to lower prices.

Fund Flows: The inflow and outflow of funds from the ETF also matters. Large inflows can drive up the price as the fund manager buys more underlying assets. Conversely, substantial outflows may necessitate selling assets, potentially decreasing the price.

Tracking Error: Differences between the ETF's performance and the underlying index's performance, known as tracking error, can affect the price. A larger tracking error may make the ETF less attractive to investors.

Expense Ratio: The ETF's expense ratio, which represents the annual cost of managing the fund, can indirectly influence the price. Higher expense ratios may slightly depress returns compared to similar ETFs with lower costs.

Constituent Stock Performance: Individual performance of the stocks making up the underlying index will impact the ETF price.