A "wait and see" moment of equilibrium that, like all market pauses, likely won't last. And though investors seem quiet, they're watching closely for the teams that stayed focused while others lost steam. It means removing friction from your product cycle and delivering tangible features or updates to users every week. Chinese capital markets are showing signs of foreign inflows again, especially in ETF activity across Hong Kong and Singapore. Investors remember who shipped, who listened and who made noise without needing a bull market to do it for them.