I actually don't quite understand the link between the stimu...

I actually don't quite understand the link between the stimulus policies so far to the Chinese consumer related stocks like $Alibaba (BABA.US)$ or $JD.com (JD.US)$ even $PDD Holdings (PDD.US)$ , understandably all stimulus in the end will reflect on the mood of the consumers there and create more demands and consumptions. My doubt is how long that'll take to happen? As so far this stimulus more on giving the Property market more funds, more fund to local government and banks and financial institutions for them to be able to move those markets around from "bottom". As for direct policies to households, the 50bp interests drop on exisiting mortgages sure will help them to save some mortgage payments, but it doesn't necessarily get into personal consumptions directly. All I'm saying is, the policies more focused on funds to industires and institutions, and takes some time until they be able to affect household consumptions. So imo, brokerage like $Futu Holdings Ltd (FUTU.US)$ $HKEX (00388.HK)$ $KE Holdings (BEKE.US)$ should be more benefiting, and also the EV players as the funds will help accelerate the old car replacement incentives, stocks like $XPeng (XPEV.US)$ $NIO Inc (NIO.US)$ $LEAPMOTOR (09863.HK)$ $Li Auto (LI.US)$ etc, even though all of them already bouncing back a lot through their sales.