Mei Ri Jing Ji Xin Wen·2025-12-16 01:59Core Viewpoint - Alibaba's stock price has hit a 60-day low amid a significant drop in the Nasdaq, with the Hang Seng Technology Index experiencing a 20% decline over the past 50 trading days, indicating a prolonged adjustment period [1] Group 1: Market Performance - Alibaba's stock opened lower by over 2% on December 16, reflecting broader market trends [1] - The Hang Seng Technology Index, along with other related indices, fell by more than 1% [1] - The current level of the Hang Seng Technology Index is approaching the 250-day moving average, a critical threshold often seen as a "bull-bear dividing line" [1] Group 2: Investment Opportunities - According to Huaxia Fund's quantitative investment department, the first quarter typically shows better performance for the Hang Seng Technology Index due to calendar effects [1] - The recent pullback in Hong Kong tech stocks is attributed to multiple pressures including liquidity, fundamentals, and valuation, which may present an opportunity for re-entry and positioning for 2026 [1] - The CSI Hong Kong Stock Connect Technology Index has a higher allocation to the pharmaceutical and biotechnology sectors, which are currently experiencing lower crowding, suggesting potential for greater elasticity in rebounds [1]