Anything a bit of a risk of mood today for tech stocks. I mean
they're investors not buying into what you heard saying. Yeah. Has Linda. That's indeed true I think. Let's not forget
yesterday. Hansen Tech Index was up 6 percent. A huge rally. People were getting ahead of themselves really being speculative
betting on some big bang announcement from Lou. And today again As you guys said there is absolutely no new details on the tech
crackdown. Easy. So people are taking some chips off the table. And as you just showed the Hang Seng Tech Index is down about 2
percent today. And I think overall you know there's also some New information in the broader market for people to digest this
such as the cold it spread in China although Shanghai has got a Situation under control. We're seeing higher number of cases in
Beijing and a flare up in Sichuan which has China's biggest city Of Chongqing. And all these things are sort of weighing on
sentiment a little bit. In addition to the lack of fresh details from new.
Dancing. I mean are we trying to find that people are searching For a catalyst for this industry group here. You know what are
investors waiting for. I mean we've heard commentary. They Didn't get the roadmap didn't get anything concrete.
Yeah. Yeah. It's a tough one. I think one thing if you know Xi Jinping came out to say that we're going to do something big in
terms of restoring people's market sentiment around tech Industry that could easily change change the sentiment in the
investor community but also the earnings that that's the next Thing people are watching out for. A 10 cent which is China's
biggest tech company will release earnings today. And people are Expecting quite a bleak set of numbers such as lowest revenue
growth since it went public. But overall I think the clues will be in its commentary about to
how the outlook will be in the second quarter how the lockdowns Are impacting its revenues in terms of especially the online ad
advertising and sales revenue. And I think that those are the Things that could have ramifications or implications for other
companies such as Alibaba which will report next week. And Overall for the tech sector we're seeing that earnings estimates
being cut for seven straight months for the tenth Hang Seng Tech Index. And the target price is also being cut for seven months
in a row. Overall I think people are watching out for anything That's you know positive on the locked down front and also
something that's more concrete from regulatory front.
