If the Hong Kong stock market can stabilize above 24,250 in the future, the next target will have a chance to move towards 25,000. Therefore, 24,250 is very important in the future; if it holds steady, there's a chance to charge towards 25,000. The stock market's rise has already stabilized above the 20-day moving average, and for the time being, there's a chance to move towards the 50-day moving average at 24,800. In the recent stock market, first, stabilizing at 24,250 gives a chance to advance towards 25,000. Also, 24,500 is a key level, being the bottom of the channel. Second, it's also the position of that 47-day EMA, so if these two major levels of 24,500 and 24,250 can be broken through in one go in the future, the market will head towards 25,000.

However, recently, due to major players restructuring their portfolios, funds have been shifting around, often moving from AI concept stocks and semiconductor stocks to Tencent and Alibaba. If funds shift back from Tencent and Alibaba to AI concept stocks or semiconductor stocks, the market will fall. Therefore, the recent market fluctuations are due to funds shifting back and forth. Recently, if there's a significant correction in US semiconductor stocks, this would actually benefit Hong Kong, as it would help drive funds back from semiconductor stocks to traditional heavyweight blue-chip stocks. But for now, there are signs of funds slowly flowing out for several consecutive days.