According to CoinMeta, Wang Zonghao, head of equity strategy research at UBS China, pointed out that UBS' tracking of approximately 800 foreign active funds shows that the positions of foreign institutional investors in Chinese stocks remained largely unchanged in the third quarter. By sector, international investors increased their holdings the most in healthcare, internet, and technology sectors, while reducing their positions in insurance, basic materials, and automotive sectors. Given that the risk-return ratio is attractive, UBS remains optimistic about Chinese technology hardware. However, the recent sharp decline in global tech stocks may have a further cascading effect on related domestic Chinese stocks. Considering that market sentiment in this area is still fragile and the holdings of public funds in technology hardware are still high, he recommends adopting a barbell strategy that combines technology hardware with banking.