---
title: "Understanding the Market | Weakness in Tech Stocks Drags Down the Hang Seng Tech Index, Alibaba-W Falls Over 5%, Tencent Drops Over 4%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/260827960.md"
description: "Tech stocks collectively weakened, dragging the Hang Seng Tech Index down over 4%. As of the time of publication, Xiaomi Corporation-W fell 7.78%, trading at HKD 48; Alibaba-W dropped 5.2%, trading at HKD 156.8; Tencent declined 4.07%, trading at HKD 625. On the news front, tariff expectations have once again impacted market sentiment. Additionally, the Bank of England recently stated that valuations of AI-related stocks are already \"too high,\" and the key infrastructure supporting their development (such as data centers) is facing \"bottleneck\" risks, which could trigger a \"significant market correction.\" However, there is significant divergence in the views of market giants regarding whether AI constitutes a bubble. Jianyin International released a research report stating that increased investment may affect short-term profits but will keep Alibaba well-positioned to seize structural AI opportunities and achieve synergies between Alibaba's main market businesses, thereby solidifying its long-term growth targets. Goldman Sachs indicated that the market is expected to focus on AI applications and capital expenditure outlooks, as well as upgrades to foundational and multimodal AI model capabilities in Tencent's third-quarter performance"
datetime: "2025-10-13T04:01:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/260827960.md)
  - [en](https://longbridge.com/en/news/260827960.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/260827960.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/260827960.md) | [繁體中文](https://longbridge.com/zh-HK/news/260827960.md)


# Understanding the Market | Weakness in Tech Stocks Drags Down the Hang Seng Tech Index, Alibaba-W Falls Over 5%, Tencent Drops Over 4%

According to Zhitong Finance APP, technology stocks collectively weakened, dragging the Hang Seng Tech Index down over 4%. As of the time of publication, Xiaomi Corporation-W (01810) fell 7.78% to HKD 48; Alibaba-W (09988) dropped 5.2% to HKD 156.8; Tencent (00700) decreased 4.07% to HKD 625.

On the news front, tariff expectations have once again impacted market sentiment. Additionally, the Bank of England recently stated that the valuations of AI-related stocks are already "too high," and the key infrastructure supporting their development (such as data centers) is facing "bottleneck" risks, which could trigger a "significant market correction." However, there are significant differences in the views of market giants regarding whether AI constitutes a bubble.

Jianyin International released a research report stating that increased investment may affect short-term profits but will maintain Alibaba's good positioning to seize structural AI opportunities and achieve synergies between Alibaba and its main market businesses, thereby consolidating its long-term growth objectives. Goldman Sachs, on the other hand, indicated that the market is expected to focus on AI applications and capital expenditure outlooks, as well as upgrades to foundational and multimodal AI model capabilities in Tencent's third-quarter performance

### Related Stocks

- [Tencent Holdings Limited (TCEHY.US)](https://longbridge.com/en/quote/TCEHY.US.md)
- [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/en/quote/TCTZF.US.md)
- [TENCENT (00700.HK)](https://longbridge.com/en/quote/00700.HK.md)
- [Xiaomi Corporation (XIACY.US)](https://longbridge.com/en/quote/XIACY.US.md)
- [XIAOMI-W (01810.HK)](https://longbridge.com/en/quote/01810.HK.md)
- [Alibaba Group Holding Limited (BABA.US)](https://longbridge.com/en/quote/BABA.US.md)
- [BABA-W (09988.HK)](https://longbridge.com/en/quote/09988.HK.md)
- [MEITUAN-W (03690.HK)](https://longbridge.com/en/quote/03690.HK.md)

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