I’m starting to feel a bit scared seeing crypto folks flocking to Hong Kong stocks all at once. Seems like the last time we saw such a large-scale move into HK stocks was back in October 2024. Right now, the main H-shares are still focused on hot stocks, kind of gives off that Binance alpha vibe from back in the day. Ever since the new Xizhi came out, Qunhe has been on a downward trend, and the cycle just keeps repeating. Blue-chip HK stocks are in a slow decline, with only localized trends here and there.