Why are Hong Kong stocks so low?

Could you please explain why Hong Kong stocks have been performing so poorly recently? Are there any specific factors contributing to this downturn, such as geopolitical tensions, economic slowdowns, or regulatory changes? How do investors typically respond to these types of situations, and what strategies can they employ to mitigate potential risks and losses? Additionally, how does the current state of Hong Kong's stock market compare to other global markets, and what are the potential implications for the future?