The Fed's interest rate cut does provide global liquidity, but more money doesn't mean it becomes stupid. Capital will still flow to the most profitable assets, which is determined by its profit-seeking nature.

Currently, the A-share market is equivalent to a huge 'non-performing asset' because it reflects the massive real estate debt in the real economy. The nature of this debt won't change for a long time. So while the Fed's rate cut may bring short-term rallies in A/H shares, the long-term trend remains unchanged$Direxion FTSE China Bull 3X(YINN.US)$Krne Csi China Internet(KWEB.US)