$XIAOMI-W(01810.HK)

Everyone, don't panic yet. You can look at other data to analyze this situation.

The US Dollar Index closed at about 98.69, down about 1.27%–1.34% from the previous day.

Many analysis institutions believe that as long as it closes below about 99.35, there is a high possibility of testing the 98.50–98.14 area next week. 

The continued weakening of the US dollar is a positive signal for the liquidity of the Hong Kong dollar, RMB, and Hong Kong stocks overall.

The expectation of improved liquidity continues to support the valuation of Hong Kong stocks.

The Nasdaq Index fell about 2.24

The S&P 500 Index fell about 1.64

The US stock market fell sharply across the board, with the technology sector under significant pressure.

Offshore RMB is about 7.1896, continuing to appreciate slightly, showing RMB stability.

The Hong Kong dollar against the US dollar is about 0.1274 USD/HKD, unchanged, still within the linked exchange rate range. 

The appreciation of the RMB alleviates the exchange rate pressure on Chinese-funded Hong Kong stocks, enhancing foreign capital confidence.

The stability of the Hong Kong dollar indicates that there has been no systemic outflow of funds from Hong Kong.

Positive factors

The continued weakening of the US dollar increases the attractiveness of non-US and Hong Kong stock assets.

RMB appreciation, Hong Kong dollar stability, reduced exchange rate risk, enhanced foreign capital confidence in allocating to the Hong Kong market.

In fact, the overall macro environment supports Hong Kong stocks, but attention should be paid to short-term panic or manipulation by major players.

However, the possibility of such operations is more difficult in the current macro environment. Although foreign capital remains cautious, the Hong Kong stock market's funding side is solid, and the trend of liquidity inflow is not conducive to large-scale manipulation by major players.

Give everyone some confidence, keep it up!