BABA(HK:09988) Xin Lang Cai Jing·2025-09-25 05:29Core Viewpoint - The U.S. stock market experienced declines, with the Dow Jones falling by 0.37%, the S&P 500 down by 0.29%, and the Nasdaq decreasing by 0.34%. In contrast, the Golden Dragon Index, which reflects the performance of Chinese concept stocks, rose by over 2.8% [3]. Group 1: Market Performance - The Hong Kong and A-share markets showed strong performance supported by technology stocks. The Shanghai Composite Index closed at 3,853 points, up 31 points or 0.83%, while the Shenzhen Component Index rose by 1.8% to 13,356 points. The total trading volume in both markets reached 2.35 trillion RMB [4]. - The Hang Seng Index was boosted by Alibaba's significant rise, surpassing the 26,500-point mark. The index reached a high of 26,562 points before closing at 26,518 points, up 359 points or 1.37%. The Tech Index also increased by 2.53%, closing at 6,323 points, with a total trading volume of 288.8 billion HKD [4]. - Alibaba's stock surged over 9%, making it the best-performing component stock, while JD.com rose nearly 4%. Semiconductor stocks also performed strongly, with ASMPT and SMIC both increasing by over 6%, and Hua Hong Semiconductor rising nearly 4% [4]. Group 2: Future Outlook - As long as technology stocks and A-shares continue to perform well, the Hang Seng Index is expected to receive positive support, likely stabilizing between 26,300 and 26,800 points. Following the recent rebound, the index has again surpassed the 26,500-point level, with the 20-day moving average (25,958 points) serving as a reference for future movements. If it stabilizes, there is potential for further testing of the 26,800-point level [5].