---
title: "📊 Hong Kong & US Stock Weekly Report: AI remains the main theme, Nasdaq enters correction zone"
type: "Topics"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/topics/39568974.md"
description: "Overall market situation Hong Kong stocks 🇭🇰 - Hang Seng Index approaches 25,000 points, market temperature 75 (slightly warm, gradually recovering) - Significant volatility this week, fell 1.89% on Wednesday, with Pop Mart and Kuaishou leading the decline - Southbound capital net sold HKD 27.36 billion on Wednesday US stocks 🇺🇸 - Nasdaq confirms entry into correction zone (down over 10% from high) - SPY S&P 500 ETF weakened this week..."
datetime: "2026-03-27T05:42:56.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39568974.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39568974.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39568974.md)
author: "[千羽](https://longbridge.com/zh-HK/profiles/9231350.md)"
---

> 支持的語言: [English](https://longbridge.com/en/topics/39568974.md) | [简体中文](https://longbridge.com/zh-CN/topics/39568974.md)


# 📊 Hong Kong & US Stock Weekly Report: AI remains the main theme, Nasdaq enters correction zone

## Market Overview

**Hong Kong Stocks** 🇭🇰  
\- The Hang Seng Index is approaching **25,000 points**, with a market temperature of **75** (warm, gradually recovering)  
\- Significant volatility this week, with a 1.89% drop on Wednesday led by Pop Mart and Kuaishou  
\- Southbound capital recorded a net sell of **HKD 273.6 billion** on Wednesday

**U.S. Stocks** 🇺🇸  
\- The Nasdaq has confirmed entry into a **correction zone** (down over 10% from its high)  
\- The SPY S&P 500 ETF weakened this week, falling from 656 to around 645  
\- Geopolitical concerns are weighing on market sentiment

* * *

## 🔥 Main Highlights

### 1\. AI Remains the Absolute Main Theme

-   **Tencent $TENCENT($TENCENT(700.HK))**: Cloud Agent product portfolio unveiled, serving over 110,000 enterprises; poaching talent from ByteDance's Seed team  
    
-   **Alibaba $BABA-W($BABA-W(9988.HK))**: Released a new version of AI Agent chip; subsidiary invested in nuclear fusion company Nova Fusion  
    
-   **NVIDIA $NVIDIA($NVIDIA(NVDA.US))**: GTC conference showcased the Omniverse virtual world; Jensen Huang proposed the concept of an "AI Agent Economy"  
    

### 2\. Tesla Under Pressure

-   Weak Q1 delivery expectations, analysts forecast a year-on-year decline of about 4.6%  
    
-   Stock price fell this week, dropping 3.55% on Thursday alone  
    
-   Elon Musk: Grok Imagine to have a major release next week  
    

### 3\. NVIDIA Valuation Hits One-Year Low

-   Stock price fell from 181 to around 171  
    
-   Involved in a $1 billion cryptocurrency revenue controversy  
    
-   Institutional view: Still the tech leader, but under short-term pressure  
    

### 4\. Divergence Among Chinese Concept Stocks

-   Alibaba saw mixed performance this week, with analysts divided on ratings  
    
-   Pinduoduo questioned on "whether it has become mediocre"  
    

* * *

## 📈 Opportunities to Watch

Type

Target

Reason

AI Application

$TENCENT($TENCENT(700.HK))

Accelerating commercialization of AI Agent, daily buybacks support stock price

Chip Valuation Recovery

$NVIDIA($NVIDIA(NVDA.US))

Valuation at a one-year low, long-term AI demand unchanged

Bottom-fishing Chinese Stocks

$BABA-W($BABA-W(9988.HK))

AI chip release + nuclear fusion investment, business diversification

* * *

⚠️ **Risk Warning**: The Nasdaq has entered a technical correction, short-term volatility remains possible; geopolitical tensions; rising oil prices pushing up inflation expectations.

_This post is for reference only and does not constitute investment advice_“

### 相關股票

- [Hang Seng Index (00HSI.HK)](https://longbridge.com/zh-HK/quote/00HSI.HK.md)
- [FI2 CSOP HSI (07500.HK)](https://longbridge.com/zh-HK/quote/07500.HK.md)
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- [FL2 CSOP HSI (07200.HK)](https://longbridge.com/zh-HK/quote/07200.HK.md)
- [TRACKER FUND (02800.HK)](https://longbridge.com/zh-HK/quote/02800.HK.md)
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- [SPDR S&P 500 (SPY.US)](https://longbridge.com/zh-HK/quote/SPY.US.md)
- [NVIDIA (NVDA.US)](https://longbridge.com/zh-HK/quote/NVDA.US.md)
- [PDD (PDD.US)](https://longbridge.com/zh-HK/quote/PDD.US.md)
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## 評論 (6)

- **千羽 · 2026-03-27T06:02:19.000Z**: Indeed, the U.S. stock market as a whole has been under pressure this year, with the Nasdaq already entering a technical correction. The logic behind shorting is understandable:From the short seller's perspective:- The high-interest-rate environment persists, putting pressure on growth stock valuati
  - **千羽** (2026-03-27T20:45:45.000Z): The analysis is very comprehensive! Several of the short seller's logical points indeed hold, especially the suppression of growth stock valuations by high interest rates. The reminder about options h
- **朝九晚五外的灵魂 · 2026-03-27T05:55:59.000Z**: US stocks are not doing well this year, it's all a downtrend. NVIDIA is definitely the top target for short-selling.
- **千羽 · 2026-03-27T05:53:28.000Z**: Good question! From a technical perspective, NVDA is currently around 171, with about 12% room to 150.Several key levels:- 170 is the recent support level, which has been tested multiple times.- The 150-160 range is the dense trading zone from Q4 last year, which should provide strong support.- If i
  - **千羽** (2026-03-27T20:45:40.000Z): Great addition! The combination of technical and fundamental analysis is spot on. Indeed, the 150-160 range is a key support zone; if it holds, there might be consolidation and accumulation before the
- **接二连三 · 2026-03-27T05:51:33.000Z**: Can NVIDIA hold 150?