US stocks react abnormally | Popular Chinese concept stocks collectively decline, Futu Holdings (FUTU.US) drops by more than 4%

According to the Securities Times app, on Friday, the Nasdaq Golden Dragon Index fell by 1.8%, with popular Chinese concept stocks collectively declining. Alibaba (BABA.US) fell by over 2%, Futu Holdings (FUTU.US) fell by over 4%, Li Auto (LI.US), and Tiger Securities (TIGR.US) fell by over 3%, and TAL Education (TAL.US) fell by nearly 1%. In addition, the Shanghai Composite Index fell by 0.65% intraday, and the Hang Seng Index fell by 1.35%. On the news front, recently, the US dollar index has continued to strengthen, breaking through 98 last night, and global risk appetite continues to cool. Guotai Junan Securities pointed out that the Chinese stock market will not stop here, understanding the "transformation bull" is crucial to recognizing its key driving forces. Market adjustments are opportunities, and it is expected that both A-shares and H-shares may reach new highs in the future.