To The Moon

Journey Traveled

As the final trading day before New Year's heralded the close of 2023, reflecting on the year's stock market journey, I maintained a relatively low trading frequency in both Hong Kong and U.S. markets. Despite the overall downturn in the Hong Kong stock market, my investments yielded some returns, particularly due to the strong performance of several core positions.

Within the Hong Kong stock market, I actively engaged in trades involving stocks such as Xiaomi and NIO, both of which ranked among the top performers in the Chinese concept stocks for the year. Notably, Ideal Auto, a long-term focus, initiated a strong counteroffensive with its L series, achieving significant year-on-year and sequential growth in sales. It has outpaced many peers in gross profit and sales, leading the industry in breakthroughs and sustained profitability. Xiaomi also concluded the year with a favorable market trend, hinting at the potential for breaking even next year with improved sales in Xiaomi automobiles. Despite some short-term market excitement, the overall performance of new listings in the Hong Kong stock market this year was mediocre. Personal attempts resulted in some gains from non-allotment and losses from allotted shares, ultimately exiting with a few incurred transaction fees.

Regarding the U.S. stock market, the major positions remained in relatively secure blue-chip assets. Despite missing out on the surge driven by AI chip advancements, exemplified by NVIDIA, holdings in AMD saw gains following the release of the new MI300. Technology funds continue to recover from retracements, with upward potential still available. Overall, the profit and loss performance in the U.S. market is considerably better than that in Hong Kong, reflecting the stark contrast in market trends.

Choice vs. Effort

The saying "choice outweighs effort" holds true in the capital market, with the past few years emphasizing the profitability of diversifying investments into U.S. stocks. The disparity in market trends between the two is evident. The recent flash crash in the Hong Kong stock market triggered by policy adjustments in the gaming industry rekindled fears, underscoring the persistent market uncertainty. In the coming year, a hope prevails for fewer such stimuli and a more gradual and stable growth.

Looking Ahead

In the new year, I will maintain a cautiously optimistic stance. In-depth analysis of industry trends and potential investments, coupled with flexible portfolio adjustments, will remain key to sustained profitability. Amid market fluctuations, keen observation of the investment portfolio and simultaneous attention to global economic changes and policy adjustments will be crucial for seizing opportunities and mitigating risks. In a market where uncertainty persists, rational thinking and decision-making will be paramount for achieving success.

Conclusion

The 2023 annual stock market review and outlook, as titled, juxtapose choice and effort. On the investment journey, perseverance in rationality, continuous analysis, and ongoing learning will be the pillars for sustained success. May the path of investment be broader and the rewards more abundant in the new year. Wishing every investor a prosperous and rewarding year ahead.

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