洪灝：科技股调整窗口或持续至8月底，尽管短期内或有两位数反弹

Odaily News, July 31st — At a Binance private sharing session, renowned economist Hong Hao stated that the major correction window his team previously predicted has opened and is expected to last until around the end of August. While a double-digit rebound is possible in the short term, the market remains in a deleveraging phase, and investors are advised to exercise patience.

Hong Hao noted that South Korea's KOSPI index has already pulled back significantly from its highs, with the market entering a phase where "bulls accumulate on dips while bears cut losses and exit." Given the index's heavy weighting in a few tech giants, their fundamental performance will remain a key factor in determining whether the market has truly bottomed out.

Regarding whether investors should immediately position in tech stocks, Hong Hao said that over the next two to three weeks, signals of a market bottom are likely to become clearer, and patience before then is more important. He cautioned that typical asset bubbles often undergo corrections of two-thirds or more before bursting, and despite the market already falling around 50%, further downside cannot be ruled out.

Hong Hao also added that beyond price movements, attention should be paid to factors such as South Korea's regulatory policies, the deleveraging process, and the impact of overseas leveraged ETFs on the market. He believes that if this correction is completed relatively quickly, it could offer more attractive entry opportunities for investors with a long-term bullish view on related assets.