US Stocks have recovered more than half their losses, rising much more gently and deliberately, when compared to the wild selloff that took the market down as much as 20 percent in December. On January we observed that the market could have hit a bottom in late December, though some strategists still expect a retest of the lows on the worry of weak global economic growth and the US-China Trade Talk will fail before the deadline. But Trump wants the trade deal and Chinese govt is pumping liquidity to lift up the weak A-shares. Therefore, I expect the HK stock markets will move higher at the first quarter of the year amid good outcome on the US-Trade deal and Fed's dovish move, but I don’t really expect a huge gain, probably retest 29000 or below 30000 this year.