突发两大利空！全球大跌，A股、港股大跳水，10月就是跌科技股

Core Viewpoint - The article highlights a significant downturn in technology stocks, driven by concerns over financing and external factors such as tariffs and market sentiment, particularly in the context of the U.S. banking sector's vulnerabilities [1][5]. Market Performance - The Asia-Pacific stock markets experienced a sharp decline, with the ChiNext Index falling by 3.36% and the Hang Seng Tech Index dropping by 4.4% [2][13]. - The Hang Seng Index closed at 25,153.91, down 2.84%, while the Nikkei 225 fell by 1.44% to 47,582.15 [3]. Factors Influencing Market Decline - Three main reasons for the drop in A-shares and Hong Kong stocks were identified: 1. Recent collapses of two U.S. regional banks due to loan fraud, reigniting fears reminiscent of the Silicon Valley Bank crisis [5]. 2. Concerns over escalating trade tensions, particularly regarding U.S. stance on rare earths [5]. 3. Anticipation of a significant meeting over the weekend, prompting institutions to sell off [5]. Individual Stock Movements - Zions Bank's stock plummeted by 13% following unexpected loan losses, while Western Alliance fell by 10.8% due to a fraud lawsuit against a borrower [5]. - The S&P Regional Banks Select Industry Index saw a decline of 6.3%, marking its largest drop in over six months [5]. Investment Trends - In Q3 2025, northbound capital saw a net inflow into stocks like CATL and Sungrow, while significant outflows were noted from Kweichow Moutai and BYD [9][12]. - The total market value held by northbound funds increased from 22.7 trillion yuan in Q2 to 25.9 trillion yuan in Q3, although the proportion of A-share market capitalization decreased from 2.79% to 2.69% [12]. Sector Performance - The sectors leading the decline included power equipment, electronics, machinery, automotive, and defense, with significant losses across these industries [13][14].