$NetEase(NTES.US) and $CHERY AUTO(09973.HK) basically didn't move, $Chagee(CHA.US) and $Grab(GRAB.US) rose slightly, and $Krne Csi China Internet(KWEB.US) also basically didn't move—the entire batch of Chinese concept stocks and Asian consumer stocks is trading sideways. Over here, the Hang Seng Index was pressured lower by the Fed's hawkish stance, and Chinese stocks lack independent catalysts. Gaming, new tea drinks, and Southeast Asian mobility are each moving slowly according to their own fundamentals. Southeast Asian platforms like $Grab(GRAB.US) have relatively more resilience, but overall, the macro sentiment is still weighing them down. There's a lack of a signal that could systematically bring capital back to Chinese stocks. Until that signal appears, it's this kind of narrow-range fluctuation.