Two weeks ago, the author thought that the Hang Seng Index was still fluctuating between 20,000 and 22,000. Last week, it was even more pessimistic, and it was adjusted down to the range of 19,200 to 21,200. The key long-short dividing line of 21,200 points has not yet risen. Broken, we cannot conclude too early that the rising wave has started again.

Although A-shares rose on Tuesday, Hong Kong stocks significantly underperformed for the second consecutive day, closing at 20,498, up 20 points, with turnover falling to 154.8 billion, the lowest since mid-September. The volatility index closed at 31.17%, with the index and major stocks rising. The implied volatility of some stocks continued to fall.