$LIULIUMEI(06658.HK) rose over eight percentage points in a day, $Coca Cola(KO.US) barely moved, and $Costco Wholesale(COST.US) and $Walmart(WMT.US) both fell slightly. Among consumer stocks, recently listed Chinese food stocks like $LIULIUMEI(06658.HK) have seen frequent unusual movements recently, mainly due to the catch-up phase for new consumption stocks in Hong Kong; the other three steady-state consumer stocks today simply followed the broader market's pace, lacking their own narrative.

Will the sentiment for small-cap new stocks like $LIULIUMEI(06658.HK) continue, or are large-cap steady-state consumer stocks more worth holding at this time? It looks more like the latter – with VIX falling to 17, funds are returning to growth stocks, but after the small-cap new consumption stocks finish their catch-up wave, there are no new short-term catalysts. The fundamentals of stocks like $Coca Cola(KO.US) / $Costco Wholesale(COST.US) / $Walmart(WMT.US) are actually more solid on a 4-6 week horizon.