Hong Kong-US Market Review (11.04) Foreign capital is celebrating, we should stay calm and see the logic clearly

Dear friends, in this round of market trends, if you take a closer look at the performance of foreign institutions, you'll understand a crucial point—they are currently in a rather "high" state.
Over the past six months, foreign investors have grown increasingly optimistic, not only with capital flowing back but also with the wording in research reports becoming noticeably more positive. For instance, Fu Si, a China equity strategist at Goldman Sachs, explicitly pointed out: China's stock market is entering a new growth cycle. The three key drivers they favor—AI, anti-involution, and globalization—are all solid structural forces. Goldman Sachs even predicts that by the end of 2027, the potential returns for A-shares and H-shares indices could be around 30%.

Looking at Nomura, analysts have also directly raised their target levels for the MSCI China Index and MSCI Asia (ex-Japan) Index. The reasoning is straightforward: strong optimism in the technology and AI sectors, coupled with a clear upward trend in corporate earnings cycles. In their projections, MSCI China still has 5% upside potential, while the Asian market has 12%.

Why are these foreign institutions so optimistic?
It's not because their accounts are profitable, nor because they've finally broken even, but because they're focusing on fundamentals, policies, and structural trends. They study logic, not emotions. Retail investors often do the opposite—getting excited when prices rise and panicking when they fall. Meanwhile, these institutions analyze long-term growth curves and trend resonances, not short-term gains or losses. That's the difference. They're positioning for the future, while many are still fixated on yesterday's fluctuations.

$Hang Seng Index(00HSI.HK) : Trend remains unchanged; don’t panic over volatility

For the Hang Seng Index, the old rule applies—stay indifferent to short-term fluctuations. When you view trends with a long-term perspective, anxiety diminishes. As long as each wave is higher than the last and the overall trend holds, there's no need to be swayed by short-term ups and downs. When this recent dip happened, I immediately said—don’t worry, I’d choose to add to positions or initiate new ones. If you're not trading short-term, there's no need to obsess over a few K-lines. The market has its own rhythm; short-term volatility is just noise—what matters is that the direction hasn’t changed.

Hong Kong Stocks: Steady Rhythm, Intact Logic

$MEITUAN(03690.HK) , $JD-SW(09618.HK) , $BABA-W(09988.HK) , $AAC TECH(02018.HK) —these long-term stocks still have solid logic and steady trends. I’ve repeatedly emphasized that you can add positions at the right levels, but always remember one thing—don’t buy just because prices are rising; buy because the logic holds. What we earn is never "emotional money" but "time’s money."

U.S. Stocks: Waiting for the Right Price, Signal, and Opportunity

My stance on U.S. stocks remains unchanged.
$Tesla(TSLA.US) —I still find the price unattractive; no need to force a position.
$NVIDIA(NVDA.US) —this rally needs further observation; no time for now.
$Apple(AAPL.US) —the 265 short position is still active; holding.
$Amazon(AMZN.US) —previously initiated a position at 217; last night, took profits at 255, earning 17.5%—a solid result.

A Quick Summary

The core logic of this market trend is clear: foreign investors are excited, institutions are positioning, and policies are driving momentum. What the market gives us is just one short-term test after another. So, don’t be scared by volatility. Learn to view the market from a higher dimension—when others panic, stay calm; when others focus on the short term, think long term. When we can analyze logic, structure, and direction like foreign investors—instead of obsessing over gains and losses—you’ve already won at the starting line.