The Hang Seng Index experienced significant fluctuations last week, initially rising before a sharp decline. According to Ming Pao, the index rebounded above 26,000 points early on Tuesday. However, following a press conference by U.S. Federal Reserve Chairman Jerome Powell, a wave of unconditional selling occurred on Thursday. This was driven by a shift in global capital expectations from potential interest rate cuts to possible hikes, leading to substantial sell-offs in emerging market stocks. Based on American Depositary Receipts (ADR), the index is expected to test the 25,000-point threshold today.