[sgbuffett]

I have stop buying and sold some a few weeks and months  back but if it gets to 17000 level I will buy and buy until my last cent...

The March to Jun 2022 rally tells us if that if HSI falls low enough it can rally independent of the US market...and even if US sinks. The previous rally failed mainly because zero COVID restrictions and China slowdown put a cap to it. 

We have now come back to the march lows. Normally I would buy at these levels and this type of situation. But this time I am not so sure ...but 17000 will definitely be a buy level for me.

Just within days HSI plunged to 17000.
17000 is like below valuation of Asian Financial Crisis with price to book of 0.7. 

If one look through history of stock markets this is rare and happens only when in crisis. Hong Kong is in recession and zero covid ravage its economy.

But on 26 Sep 2022, Hong Kong removed covid restrictions . But nobody bothered and  investors continue to sell.

This is very odd as Hong King's problems are partially caused by covid zero restrictions yet removal of restrictions did not help the market.

HSI is pricing the collapse of HK economy something like 1998.