Written at the time of the U.S. stock market rebound. Here's how I view current investments...

Most people in the U.S. now believe that the impact of tariffs on inflation will only be short-term, and the gray rhino of inflation will continue to linger for a while longer. Unless the White House imposes additional tariffs, U.S. stocks won't fall back to their mid-March lows. The Nasdaq $NASDAQ Composite Index(.IXIC.US) reaching 20,000 points is not a big problem. NVIDIA $NVIDIA(NVDA.US) has solid fundamentals, so just slowly accumulate on dips, folks.

Over in Hong Kong stocks, the trade war combined with the depreciation of the yuan has allowed tech stocks to successfully reap benefits, but expectations have already been fully priced in. For now, we need to keep our heads down and wait until April 2nd when the tariff shoe drops, and survive the muddy waters of earnings season.

Back home, the start-of-year real economy data has exceeded expectations, with consumption being the main narrative.

The Fed folks talk a big dovish game, but their balance sheet reduction hasn’t slowed down. Things aren’t quiet both inside and outside our own yard—externally, the U.S. is squeezing us with tariffs, while internally, we’re relying entirely on fiscal stimulus and a sluggish property market. For now, this rebound in U.S. stocks can keep bouncing a bit longer, but we’ll need to wait two weeks after the tariff policy is confirmed to observe further, especially since Trump can flip the script anytime.

This week, both U.S. and Hong Kong stocks might see some minor gains, slowly clawing back losses. Keep an eye on AI—I’ve already pushed my position to over 70%.