Since February last year, the Hang Seng Index has fallen for one year. At present, Hong Kong stocks are at the bottom of the medium and long term. Global risk aversion under geopolitical conflicts has obviously impacted Hong Kong stocks. The Hang Seng Volatility Index, which reflects the panic degree of Hong Kong stocks, is higher than the bearish and bullish ratio of the Hong Kong Stock Exchange. Valuation has once again returned to an attractive position. As of February 25th, Hang Seng Index broke the net again, and the P/B ratio dropped to 0.94 times. After a sharp decline at the beginning of the year, the recent AH premium has continued to rise. The medium and long-term Hong Kong stocks as a whole are already in the deep value range. Once the risk appetite other than dead mice feels cold and improves, it is expected to rebound and re-evaluate.

You can pay attention to Hong Kong stock-related funds, such as H-share ETFs and Internet funds. Judging from the medium and long-term fundamental factors, on the whole, China will still grow, and there is no need to worry about the short-term performance decline. Based on the medium-term value and high cost performance, you can make bands on dips. If you are a long-term investor, you don't need to cut it if you are already in this situation. You just have to bear it, and it will pass.

Interactive messages from netizens, I almost make up the position, from autumn pants to shorts, shorts to underwear, underwear to thongs. It seems that the mood is already very low.

When the market is bad, in order to protect your mentality, it is best not to look at the account, because the money is less and the stock is still there; Keep looking at the account, stocks and money are gone! Calculating the floating profit and loss every day has no other benefits except increasing troubles and destroying emotions. We can just look at how much money we have made this year at the end of the year, take a longer view and lengthen the time.

In the short term, Hong Kong stocks will be fine for at least one or two months, and the market will remain in a state of repair. Continue to be cautious in July and August, and do not rule out repetition. Hong Kong stocks return to normality and rationality, and reversing investment opportunities will not happen overnight, but there will still be some twists and turns. If Hong Kong stocks want to restore rational, normal, reversible and trend investment opportunities, they may still need to wait until the second half of the year and need to release medium-term risks.

The above is purely my opinion, please don't imitate it. The stock market is risky, so you need to be cautious when entering the market.