1. The international situation is unstable: global economic slowdown, trade wars, geopolitical risks and epidemics may have an impact on the Hong Kong stock market.
2. Changes in interest rates and inflation: If interest rates and inflation rates rise, users may sell stocks and other assets to reduce risks, which will lead to a decline in share prices.
3. Affected by the Fed's expectation of raising interest rates: If the Fed raises interest rates and the US dollar strengthens, the exchange rate will rise, while the Hong Kong dollar is pegged to the US dollar. Once the dollar appreciates, the Hong Kong dollar will also appreciate, and the stock price of the same value denominated in Hong Kong dollars will fall relatively.