伊朗局势紧张未见缓解，恒生科技指数一度跌破5000点

Core Viewpoint - The article discusses the impact of geopolitical tensions, particularly in the Middle East, on the Hong Kong stock market, specifically the Hang Seng Technology Index, which is facing downward pressure amid rising oil prices and market uncertainty [3][4]. Group 1: Market Analysis - International oil prices have surged significantly, with reports indicating prices above $90 per barrel, leading to increased market volatility and a return to risk-averse behavior among investors [3][4]. - The Hang Seng Technology Index has seen a decline, with a notable drop below the 5000-point mark, and analysts suggest that it may find support around the previous low of 4750 points [3][4]. - Analysts from Everbright Securities and Blue Water Capital Management highlight that the ongoing geopolitical situation, particularly the lack of resolution in the Iran conflict, is a major factor influencing market dynamics [4][5]. Group 2: Company Performance and Expectations - Tencent Holdings is set to release its Q4 2025 and full-year results on March 18, while Alibaba will disclose its Q3 2026 results on March 19, which are anticipated to provide insights into the performance of major tech companies amid current market conditions [5]. - The article notes that the initial excitement around AI applications, referred to as "小龙虾," has waned, and investors are now focusing on the fundamental changes within these companies as they adapt to market demands [4]. - Analysts suggest that despite the current volatility, there is potential for a market rebound once geopolitical uncertainties are resolved, indicating a favorable environment for non-U.S. assets in the medium term [5].