In early trading today, Hong Kong stocks once soared, but near midday, they also quickly killed fall, and the three major stock indexes turned fall. Since the opening of the A-share market, the trend has been relatively sluggish. The People's coin and A50 also weakened in tandem. From the perspective of the Asia-Pacific market, the Japanese stock market falls the most, and the Nikkei 225 index once falls more than 1.7%. Analysts believe that there are four major unfavorable factors: first, this wave of market actually originated from real estate, before Vanke A was blocked by huge buying pump stopped, but today Vanke A and Vanke enterprises once again killed fall, real estate zone big dump nearly 3%. The short term logic of real estate seems to have weakened. Second, Morgan Stanley, which has a large influence in the Chinese market, spoke out again. The bank said that the recent pump in Chinese stocks may weaken, and it is recommended to focus on individual stocks rather than chasing rising prices indexes. Third, the Fed's hawkish signals led to renewed strength in the dollar index, while non-US coins continued to weaken. This has been the case in recent days for the RMB coin and the yen. Fourth, structurally, the market seems to have begun to anticipate new trade disputes. Today, the ETF big pump of modern agriculture exceeded 2%, and rare earth permanent magnet stocks also rose significantly in early trading.