Breaking news, Hong Kong stock market reaction.

The US-Iran conflict over the weekend was a long-planned event; having the stone drop (the uncertainty resolved) actually makes things clearer. The war seems to be progressing smoothly. In the Asian trading session, the stock market reaction was most pronounced in Hong Kong stocks. The Nikkei didn't fall as much as the Hang Seng Index's 2.5% drop, while A-shares rose. The Nasdaq fell only 1% in Asian trading, and Hong Kong's overreaction wasn't part of that. The narrative of Hong Kong stocks being a safe haven amid global turmoil is gone, and the situation is quite different. The Hang Seng Volatility Index (VHSI) once surged 17%. US stocks aren't panicking, but Hong Kong stocks are losing their footing. The Hang Seng Index fell to the support level of 25,800, returning to its early-year value. If the drop is due to the 7,000 futures contracts for Hang Seng Index bull warrants targeting 25,800, it could rebound upon reaching that level. Currently, over 5,700 futures contracts for bull warrants have been called, causing significant losses for bulls. Today, it's advisable to close above 26,000/26,200. If US stocks don't react too strongly, the Hang Seng Index could stabilize again. With the Two Sessions approaching, wouldn't Northbound capital cooperate? Hong Kong stocks often go against the grain, and the big players from the North are full of tricks. The Middle East situation could also calm down in a few days. Hong Kong's overreaction might be a continuation of the capital outflow since last December, as reflected in the "worst first-day performance of the Lunar New Year in 6 years." With a dense schedule of IPOs draining liquidity and weak Northbound inflows, how can Hong Kong stocks achieve glory again based on capital flows? The Hang Seng Index options strategy of buying both calls and puts (straddle/strangle) for the week saw the index fall below 26,300 during Thursday's late session/night session and Friday's morning session, achieving the double-target of 26,400. Weekly options exert force near settlement, testing holding power. Fighting wits with institutions also requires knowing yourself and your enemy. Professional retail investors' options trading considers balance, not gambling on big or small bets. Fight and retreat skillfully. From the second half of '25, there were 24 wins, 3 draws, and 5 losses over 32 consecutive weeks. The first two months of this year have a lower win rate than the second half. This week's dual-buy strategy has entry target levels of 27,200/26,000.$Hang Seng Index(00HSI.HK)