The year-to-date gains of the “Seven Sisters” in the U.S. stock market—if you bought an equally weighted basket with 100 yuan—would currently give you a return of 7.4%. In the same period, the Nasdaq is up 19.48%, the S&P is up 10.13%, and the Dow is up 6.18%. In other words, the U.S. stock market also has a siphoning effect: not all of the big-weight stocks are rising, but fortunately, not many are falling.

Right now, market capital is flowing into the AI sector, and Micron and Seagate have become the most attractive picks at the moment. However, the siphoning effect isn’t as strong as it is in China A-shares. You can think of A-shares as having no incremental capital—since AI has risen a lot, it can only be pulled from other sectors. Whatever U.S. stocks are rising in, A-shares tend to follow. When U.S. stocks rise in technology, A-shares also rise in technology, but the technology on our side is supporting theirs.

U.S. consumer stocks are also generally just so-so. For example, Diageo is down 63% from its peak, and our baijiu stocks haven’t fallen less either. Watching U.S. stocks speculate on A-shares is also a pretty solid strategy.