Hong Kong-US Market Review (10.27) Only by enduring loneliness can you secure profits!

Dear friends, in today's review, I want to say four words—endure the solitude. The hardest thing in the market is never analyzing fundamentals or predicting K-lines, but patience. Patience to endure volatility, patience to resist temptation, patience to watch others profit while you don't. Those who can wait will ultimately laugh last.

First, let's look at the macro picture. Last night, the U.S. released September CPI data—3% year-on-year, with core CPI also at 3%, both below the market's expectation of 3.1%. What does this mean?—It means inflation is cooling, and the market instantly switched to "easy mode." The result? The three major U.S. stock indices all reached record highs. Liquidity transmission is now the most direct driving force.

1. Rate Cut Expectations Surge, Liquidity Fully Loosens

After the CPI release, the CME FedWatch data tells the story at a glance: The probability of a December rate cut surged from 91% to 98.9%, with the market even betting on two more cuts this year. This is no longer "expecting a rate cut" but "pricing in a rate cut." U.S. Treasury yields are also softening, with the 10-year yield showing clear signs of retreating from recent highs to around 3.75%. Once rates start falling, global capital will seek new outlets, and Hong Kong stocks—with their valuation discounts and policy support—are bound to attract attention again.

2. Policy Support Is Coming, Sentiment Is Temporary

Domestically, last week's Fourth Plenary Session of the 20th Central Committee sent a critical signal. The meeting emphasized—"macro policies must persist and intensify at the right time." In fact, Q3 saw a relative policy vacuum, with no major moves" announced, as many departments awaited this meeting's guidance. Now that it's over, the direction is clear, and policymakers' focus on short-term economic performance will undoubtedly increase. For the market, this marks the start of sentiment bottoming and fundamentals warming up.

$Hang Seng Index(00HSI.HK) : Pullbacks Are Opportunities, Not Risks

For the Hang Seng Index, my view hasn't changed at all. Ignore short-term volatility; focus on the long-term trend. As long as the overall trajectory is higher highs, there's no need to panic. When this dip started, I immediately said—don't be afraid, add positions if needed. While it didn't pay off right away, the results are now starting to show. The market's rhythm isn't broken, and our logic remains sound—that's all that matters.

Hong Kong Stocks: Stick to the Rhythm, Win Steadily

These long-term holdings—$MEITUAN(03690.HK) ,$JD-SW(09618.HK) ,$BABA-W(09988.HK) ,$AAC TECH(02018.HK)—have been profitable for those who strictly followed my review strategy. The rally isn't over; in fact, it's playing out exactly as we hoped. Be patient—the logic is intact, and profits are just a matter of time.

U.S. Stocks: No Rush, Price Matters Most

For U.S. stocks, my stance remains—don't act until the price is right.

$Tesla(TSLA.US) I'm not satisfied with the current price—waiting.

$NVIDIA(NVDA.US) Tonight, I'll watch for opportunities to short again.

$Apple(AAPL.US) I'm eyeing the $265 level—if it hits, I'll consider it.

$Amazon(AMZN.US) Already entered at $217, missed the chance to add at $200, but the trend looks good—no big deal.

In Short

The market, frankly, is a test of discipline. Don't get carried away when it rallies; don't panic when it falls. Only by enduring solitude can you secure profits. This Hong Kong market correction has shown us who truly has staying power. Watch liquidity for macro trends, policy for direction, and technicals for timing—if all three align, don't let short-term noise distract you.

The rally is still here, the logic is still here, and so are we.