智通财经网·2025-10-13 04:01Core Viewpoint - The technology stocks have collectively weakened, leading to a decline of over 4% in the Hang Seng Tech Index, influenced by tariff expectations and concerns over AI stock valuations being "overvalued" according to the Bank of England [1][1][1] Group 1: Market Performance - Xiaomi Group-W (01810) fell by 7.78%, trading at 48 HKD [1] - Alibaba-W (09988) decreased by 5.2%, trading at 156.8 HKD [1] - Tencent (00700) dropped by 4.07%, trading at 625 HKD [1] Group 2: Market Sentiment and Risks - Tariff expectations have negatively impacted market sentiment [1] - The Bank of England highlighted that key infrastructure supporting AI development, such as data centers, is facing "bottleneck" risks, which could lead to a significant market correction [1] - There is a notable divergence in opinions among market giants regarding whether AI constitutes a bubble [1] Group 3: Analyst Insights - Jianyin International's report suggests that increased investment may affect short-term profitability but will maintain Alibaba's strong positioning to seize structural AI opportunities and achieve synergy with its main market operations, thereby solidifying long-term growth targets [1] - Goldman Sachs anticipates that the market will focus on AI applications and capital expenditure outlook in Tencent's Q3 performance, as well as upgrades in foundational and multimodal AI model capabilities [1]