From a macro perspective, Hong Kong stocks this year, whether it's the marginal recovery in exports, the reduced drag of the real estate sector on consumption, or the policy support for the real estate sector itself, all indicate that unlike last year's unilateral free fall after a high start and low finish, there are certain support factors this year.

When the economic fundamentals are no longer unilaterally declining, and individual companies are pruning ineffective investments, emphasizing dividends and buybacks, and slowly improving corporate governance levels, it means that overseas Chinese assets this year have a certain invisible bottom. Chasing highs in Chinese assets this year may not yield returns, but after a certain degree of pullback, the probability of earning volatility returns is high.