I sold off at the bottom, and the Hang Seng Tech Index staged a strong rebound.

Let me take a look at the main reasons for this rebound, roughly 4 points:
1️⃣ Policy support:
The central bank governor made a major statement, proposing four core directions to firmly support Hong Kong's international financial center construction and capital market development.
2️⃣ Extreme undervaluation:
It had significantly underperformed global core markets in the early stage, with the Hang Seng Tech Index's P/E ratio beaten down to the historical bottom of the 27.4% percentile, offering very high cost-effectiveness.
3️⃣ Global capital rotation:
The U.S. and South Korea's memory chip sectors technically entered a bear market, with Morgan Stanley calling to sell chips and buy software. The withdrawn profit-seeking funds need to find value troughs, making Hong Kong stocks an important option.
4️⃣ Southbound capital flood buying:
Southbound capital frenziedly bottom-fished, with net buying exceeding 20 billion yuan in a single day on July 6!
It can only be described as a recovery rally.
Now I have started embracing U.S. stocks.
After holding the Hang Seng Index for four years, its returns are still lower than short-term bonds.
I think I won't buy it back again.