On Thursday (the 5th), the three major U.S. stock indices closed down significantly, erasing all of their gains from the previous trading day, while most Chinese concept stocks listed in the U.S. managed to rise against the trend.
As of the close, the Dow Jones fell by 1,833.06 points, a decrease of 3.44%, to 51,523.06 points; the S&P 500 index fell by 334.89 points, a decrease of 4.36%, to 7,353.73 points, recording the largest single-day decline since April 2025; the Nasdaq fell by 1,421.52 points, a decrease of 5.52%, to 24,315.00 points, and has retraced approximately 11.9% from its historical high close on October 6th, entering a correction zone.
The Chinese concept stocks sector has developed its own independent market trend. The NASDAQ China Golden Dragon Index rose by 0.43%, reaching 5,747.08 points. Most of the popular Chinese concept stocks saw increases; Mingchuang Youpin rose by 5.95%, NetEase by 4.37%, and both Bilibili and Alibaba had gains of over 2%; Kebiao Technology soared by 30.9%, and Huhu Technology International rose by 27.24%.
According to the Securities Times, market analysts believe that the resilience of Chinese concept stocks this round is primarily supported by clear, continuous, and stable expectations regarding China's technology policies. From the 14th Five-Year Plan to the beginning of the 15th Five-Year Plan, the focus on technological self-reliance and strength has remained consistent as a key development theme. The institutional environment has been continuously optimized, providing a long-term predictable framework for market innovation entities. The outline of the 15th Five-Year Plan emphasizes accelerating high-level technological self-reliance and strength, leading the development of new quality productive forces, and clearly promotes the deep integration of technological innovation with industrial innovation. At the national level, a combination of policies in areas such as finance, taxation, economics and trade, and industry has been implemented to unblock innovation chains, continuously cultivate and strengthen new quality productive forces, and stabilize the long-term confidence of overseas funds in China's innovative industries.
