Why do I see this round of news as favorable but still remain bearish? Aside from following Buffett's investment philosophy and maintaining rationality during euphoria:

The China-US tariff agreement was briefly reached, and the good news has landed.

Joint statement of the China-US Geneva economic and trade talks was released:

🛃 Tariff easing: The two sides agreed to suspend the implementation of 24% new tariffs for 90 days and cancel some existing tariff measures.

🤝 Establish a consultation mechanism: China and the United States will establish a normalized economic and trade consultation mechanism, and negotiations can be conducted in China, the United States or a third country in the future.

📈 The market reacted positively: Hong Kong stocks soared in the late trading, the Hang Seng Index rose by more than 2%, and technology stocks led the gains.
Sina Finance

📌 Interpretation: This is an economic cooling experiment of "mutual concessions for 90 days". Although there are still challenges ahead, both sides have shown their willingness to avoid a comprehensive decoupling.