Hong Kong Stocks Open Mixed, Tech Shares Slip While Gold and Brokerages Weaken

Deep News09-21 09:32

Hong Kong's benchmark indices kicked off the trading week with a mixed opening as investors weighed a rise in US Treasury yields against softer dollar movements. The Hang Seng Index dipped 0.01% to 24,748.45 points, while the Hang Seng Tech Index slipped 0.08%. In contrast, the Hang Seng China Enterprises Index managed a marginal gain of 0.05%.

US stocks ended Friday with a mixed performance as the 10-year Treasury yield climbed back above the 5% threshold, casting a shadow over market sentiment. The dollar retreated, while gold prices held firm and oil prices faced renewed pressure.

In the tech sector, internet stocks were split, with Alibaba and Tencent rising more than 1%, while Lenovo fell over 1%. Semiconductor-related names were active in early trade, with Montage Technology advancing more than 2%.

Gold mining stocks came under pressure, with Everest Gold dropping over 2%. Chinese brokerages showed broad weakness as GF Securities declined more than 2%. In a notable debut, Transwarp Technology opened flat on its first day of trading.

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