The RMB continues to appreciate, and the US dollar is approaching the integer mark of 7 against the RMB. However, Hong Kong stocks, which previously benefited the most from RMB appreciation, have continued to adjust. On the morning of December 16, the Hang Seng Index fell another 1.91%, trading HK$107.1 billion, and closed at noon at 25,139 points. The cumulative adjustment for the fourth quarter exceeded 2,000 points. It also fell below the lows of October and November, setting a new low in the current round of adjustments. As for the reason behind it, some industry insiders analyzed that Hong Kong stocks had a relatively high rise in 2025, and there was already some need for adjustment; on the other hand, due to factors such as southward capital adjustments, a recovery in US bond interest rates after the Federal Reserve's “hawkish interest rate cut,” and geopolitics, and the fact that it is still uncertain whether the Bank of Japan will raise interest rates on December 19, some investors are concerned that the market will be impacted.

The RMB continues to appreciate, and the US dollar is approaching the integer mark of 7 against the RMB. However, Hong Kong stocks, which previously benefited the most from RMB appreciation, have continued to adjust. On the morning of December 16, the Hang Seng Index fell another 1.91%, trading HK$107.1 billion, and closed at noon at 25,139 points. The cumulative adjustment for the fourth quarter exceeded 2,000 points. It also fell below the lows of October and November, setting a new low in the current round of adjustments. As for the reason behind it, some industry insiders analyzed that Hong Kong stocks had a relatively high rise in 2025, and there was already some need for adjustment; on the other hand, due to factors such as southward capital adjustments, a recovery in US bond interest rates after the Federal Reserve's “hawkish interest rate cut,” and geopolitics, and the fact that it is still uncertain whether the Bank of Japan will raise interest rates on December 19, some investors are concerned that the market will be impacted.