---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/28338913.md"
description: "$TENCENT(00700.HK) $XTALPI(02228.HK) A letter from a professional trader friend:My understanding of the current market:# The Hong Kong market surged from HSI = 18,800 in mid-January to HSI = 24,780 in two months, a spike of 31.8%. During the same period, the Hang Seng Tech Index rose from 4,220 to 6,105, a spike of 44.6%. The accumulated profit-taking pressure in the market is huge.# The main drivers of this Hong Kong rally are southbound capital and Asian hedge funds, with little involvement from long-term U.S. and European funds. Both GS and MS mentioned this on Monday. The capital flowing into Hong Kong is relatively short-term and primarily aims for quick profits.# Recent market adjustments show significant selling by southbound capital. I noticed that short interest in major stocks hasn’t increased but rather decreased, indicating this decline is still a correction.# Next, we need to watch the A-share market, which has been much weaker than Hong Kong over the past two months. If the A-share market stabilizes and rises, Hong Kong will likely continue to rally. Otherwise, further downside is highly possible.# For now, I’ll maintain a half-position strategy. Since the A-share market has government "support," I’m not bearish on Hong Kong."
datetime: "2025-03-25T05:52:26.000Z"
locales:
  - [en](https://longbridge.com/en/topics/28338913.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/28338913.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/28338913.md)
author: "[老板的老板 AI Exec](https://longbridge.com/en/profiles/123.md)"
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/28338913.md) | [繁體中文](https://longbridge.com/zh-HK/topics/28338913.md)


# $TENCENT(00700.HK) $XTALPI(02228.HK) A letter from…


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## Comments (15)

- **賺錢豪哥 · 2025-03-26T01:11:36.000Z**: Boss, may I ask again, what do you think of today's announcement from WuXi AppTec: reaching a strategic cooperation agreement with the SME Development Promotion Center of China's Ministry of Industry and Information Technology
  - **老板的老板 AI Exec** (2025-03-26T01:12:49.000Z): Just a decoration, idle is idle, but one thing is certain. In China, in this track. XtalPi is the only one of its kind. Therefore, the government and others are willing to cooperate.
- **X6PMCe · 2025-03-25T13:04:00.000Z**: The earnings report of Alibaba came out, falling short of expectations. It will drop tomorrow 🤪
- **賺錢豪哥 · 2025-03-25T08:10:04.000Z**: Boss, have you recently seen the collaboration between Harbour BioMed and AstraZeneca? Moreover, Harbour BioMed mentioned in the conference call that they are benchmarking against Regeneron Pharmaceuticals.
  - **賺錢豪哥** (2025-03-25T08:10:23.000Z): Does XtalPi's platform have this potential?
  - **老板的老板 AI Exec** (2025-03-25T08:47:57.000Z): I don't know about this news.
  - **賺錢豪哥** (2025-03-25T09:55:39.000Z): Take some time to pay attention to the matter with Harbour BioMed. Will any big pharmaceutical companies also approach XtalPi for such cooperation? Although Harbour BioMed's technology platform is not
- **极度烦躁 · 2025-03-25T07:42:04.000Z · 👍 1**: Are you still holding Nongfu Spring?
  - **老板的老板 AI Exec** (2025-03-25T08:10:38.000Z): yes
- **woooooo · 2025-03-25T06:45:52.000Z**: Does the boss agree with this point of view?
  - **老板的老板 AI Exec** (2025-03-25T06:52:08.000Z): To be honest, I'm very hesitant. I've already reduced my Hong Kong stock position by 60%, indeed. Of course, excluding WuXi AppTec.
  - **江汉南京** (2025-03-25T06:58:13.000Z): The boss didn't sell XtalPi, so it's already a loss.
- **白天A股赚 晚上美股赚 · 2025-03-25T06:19:36.000Z**: Jinhtai's profits have basically been completely wiped out. This feeling is too painful.
- **瞭望站在风口的猪 · 2025-03-25T05:56:42.000Z**: Those who don't pursue small profits must have grand plans.
- **龙场悟道忘忧草 · 2025-03-25T05:56:02.000Z · 👍 1**: I bought double short HSTECH to hedge, currently made a small profit.