Today, the performance of two major markets in the Asia-Pacific market is weak. One is the collective decline in Hong Kong stocks, and the second is the weakening of the Japanese stock market throughout the day. As a result, the A50 dropped by nearly 1% at one point. Affected by this, the virtual currency market is also weakening. So, what actually happened? First, some foreign-funded institutions downgraded Alibaba's rating, which brought a certain disadvantage to Hang Seng Technology; secondly, the collective decline in non-ferrous metals stocks also helped the market fall; third, according to CITIC Securities estimates, there was a certain liquidity gap in January due to government bond financing, seasonal M0 fluctuations, and the expansion of the payment base. What is more noteworthy, however, is the impact of large settlements on liquidity.

Today, the performance of two major markets in the Asia-Pacific market is weak. One is the collective decline in Hong Kong stocks, and the second is the weakening of the Japanese stock market throughout the day. As a result, the A50 dropped by nearly 1% at one point. Affected by this, the virtual currency market is also weakening. So, what actually happened? First, some foreign-funded institutions downgraded Alibaba's rating, which brought a certain disadvantage to Hang Seng Technology; secondly, the collective decline in non-ferrous metals stocks also helped the market fall; third, according to CITIC Securities estimates, there was a certain liquidity gap in January due to government bond financing, seasonal M0 fluctuations, and the expansion of the payment base. What is more noteworthy, however, is the impact of large settlements on liquidity.