HKIFC: Herd mentality among Hong Kong’s virtual asset investors is declining, but reliance on financial influencers is increasing

According to Hong Kong 01, the Investor and Financial Education Council (IFEC) under the Securities and Futures Commission (SFC) of Hong Kong conducted follow-up research on its previous behavioral science study of virtual asset investors—titled “Heuristics in Investment Decision-Making.” The findings show that Hong Kong virtual asset investors’ herd mentality, tendency to take on higher risk after realizing gains, and reliance on past personal experience have all significantly declined. Additionally, investors’ behavior of mimicking the general public in purchasing specific virtual assets has decreased, as have their inclination to assume greater risk after making profits and their dependence on personal prior experience.