First off, can we have the option of choosing both market instead of just 1 out of 2 😂.
From the HSI chart, price action is showing higher low and higher high in the daily timeframe. In the weekly, there appear to be resistance around 19400 region. Whether it will break up or down remain to be seen. Personally, I would prefer the market to reverse before hitting higher to prove that the market have legs for further upside and signs of market reversal and start of the new bull run so let's see.
As for which market to invest in 2023, it boils down to
1) individual risk appetite - Hong Kong is weighted heavily by geopolitical tensions and government intervention and policies hence it has a higher risk as compare to US market. However, consider it's cheap valuation, it's risk reward is more attractive as compare to the US market. So one has to decide how much they are willing to risk in percentage term for their portfolio. The risk free way of investing is simply buy the HSI index over long term via $TRACKER FUND OF HONG KONG(02800)$ . Personally, I have allocated 30% of my net worth in HK market as the risk reward plus China economic growth make it as an easy choice to own HK/China stocks.
2) time horizon - consider the general sentiment for HK market (including China), one should give himself/ herself a time period of at least 5 years for it to realize its potential. If you have a short time horizon, trading would be equally viable base on risk reward.
3) diversification - personally I will never allocate my entire net worth into a single market not even SG market (my home country). I find investing across different countries, different asset classes, different industries give me a peace of mind. As long as you did not over-allocate and within risk limit, you should be able to sleep well every night. One should know their strength and weakness so invest within one's comfort zone is important.
Personally, I'm well allocated into HK so my game plan for 2023 is to continue to add positions into my SG and US portfolio 😉.
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Good haha