--- title: "[Zhenzhuo Institutional View] US stocks retreated, Nasdaq fell 0.9%, Hang Seng Index testing support at 25,500 points" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40277146.md" description: "The three major U.S. stock indices fell, with the Dow Jones Industrial Average down slightly less than 0.1%, while the S&P 500 and Nasdaq indices fell 0.5% and 0.9% respectively. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, fell 0.49%. As for the Chinese and Hong Kong stock markets, A-shares were weak yesterday, with both the Shanghai and Shenzhen markets in decline throughout the day. The Shanghai Composite Index briefly rose in early trading before falling back, dropping as much as 0.57% in the afternoon, and finally closed at 4,078 points, down 0.19%. The Shenzhen Component Index performed relatively weakly, opening 0.47% lower and falling throughout the day, dropping as much as 1.5% at one point, and finally closed at 14,830 points..." datetime: "2026-04-29T05:20:36.000Z" locales: - [en](https://longbridge.com/en/topics/40277146.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40277146.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40277146.md) author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)" --- # [Zhenzhuo Institutional View] US stocks retreated, Nasdaq fell 0.9%, Hang Seng Index testing support at 25,500 points The three major U.S. stock indices fell, with the Dow Jones Industrial Average down slightly less than 0.1%, while the S&P 500 and Nasdaq indices fell 0.5% and 0.9% respectively. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, fell 0.49%. As for the Chinese and Hong Kong stock markets, A-shares were sluggish yesterday, with both the Shanghai and Shenzhen markets in decline throughout the day. The Shanghai Composite Index briefly rose in early trading before falling back, dropping 0.57% at one point in the afternoon, and finally closing at 4,078 points, down 0.19%. The Shenzhen Component Index performed relatively weakly, opening 0.47% lower and continuing to decline, falling as much as 1.5% during the session, and finally closing at 14,830 points, down about 1.1%. The total turnover for the two markets for the day was about RMB 2.53 trillion. In Hong Kong, the market performed weakly yesterday, with the Hang Seng Index opening down 111 points. Although the decline narrowed to just 28 points at one point, the market fell again due to a collective decline in the technology sector, and the decline intensified further in the afternoon. It finally closed down 245 points or 0.95% at 25,679 points. The Hang Seng Tech Index performed even worse, plunging 2.3% to 4,827 points, with a daily turnover of HKD 262.3 billion. Among the constituent stocks, $WUXI APPTEC(02359.HK) performed the best, rising 13.6%, while $HAIER SMARTHOME(06690.HK) also rose more than 3.9%. As for the declining stocks, $CATL(03750.HK) performed the worst, falling nearly 7%, while Sunny Optical (02382.HK) and BYD Electronic (00285.HK) fell 6.2% and 5.2% respectively. As the overall market sentiment has not improved, the upside potential for the Hang Seng Index is expected to be limited. At this stage, the Hang Seng Index is still maintaining a pattern of fluctuating decline, with support below continuing to be watched at 25,500 points. 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