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Hang Seng spot started the day with slight positive but then commenced a panic down breaking 24,000 hitting a low of around 23,821. This is despite a strong US equities market overnight, which saw S&P, Nasdaq 100 and Dow up over 1%. Is the fear over in US? Well I do know my critical support (see my youtube video) is still supported after a round of "punches" down by the US bears... Wait... am I digressing? Not only am I not, I mean it is important to note that the Chinese bears are losing steam and now are trying to use the fear in US equities to spread the fear to Chinese markets, trying to bring it down amidst low volume this week in the Hong Kong markets when China is having its one week holiday and less support and liquidity is coming from there.

The usual suspects of the perpetual China bears are there to shortsell the Chinese equities. But even at this price point, I remain cautiously optimistic of selective US tech stocks and Chinese tech stocks. Whats more there is price discount.  Heading into the afternoon session, Hang Seng is trying to maintain its support above 24,000 and 23,700.. Will it hold? Even with a leg down to around 22,500, will there be even more bargain hunters coming in? The millenials no longer just follow hedge funds' calls since these hedge funds calls like that even the one from legendary one like George Soros (man who broke England's central bank) as this group of highly educated millenials have at their finger tips information from the "powerful" internet. 

Nevertheless, one should still watch out the risks and assess based on portfolio management aspect (You can search for Hopehope赋予希望 for my series of videos on portfolio management). The current risk reward does look decent for selected Chinese tech stocks.

As for Hang Seng Tech, it is still trying to hold onto 5,900 points. Interested viewers can go to my youtube channel if you would like to watch my daily review of Hong Kong equities market. The link is as follows:-

https://www.youtube.com/channel/UCAPWOEQKCpCWmzKkdo7v-iw

In the meantime, you will see Haier Smarthome has found support around 26 HKD and Kuaishou Tech at around 80 HKD. Xiaomi though is trying to find its way back to 21.5 HKD despite naysayers saying Honour brand phone is challenging its status. Wait... Xiaomi has an international strategy isnt it... In any case, stay tuned on my youtube channel to wait for future videos on Xiaomi, Tiger Brokers, Kuaishou Tech and many other US and Hong Kong equities in the near future.

As always, the above should not be construed as any investment or trading advice.