Hong Kong Stocks Open Higher: Hang Seng Index Up 0.19%, Pharma and Raw Materials Shares Strong, Wuxi AppTec Surges Over 3%

Stock News10-28 09:53

On October 28, the Hang Seng Index opened 0.19% higher at 23,083.99 points; the Hang Seng Tech Index rose 0.78% to 3,829.97 points; the State-Owned Enterprises Index gained 0.30% to 7,790.38 points; and the Hang Seng China Enterprises Index climbed 0.41% to 3,900.45 points.

Pharmaceutical and raw materials stocks led the gains, with the Hang Seng Healthcare Index rising 1.66% and the Hang Seng Raw Materials Index up 1.54%, ranking among the top two performers among the 12 Hang Seng industry indices; the Hang Seng Industrials Index rose 0.46% and the Hang Seng Information Technology Index also gained 0.46%.

Among Hang Seng Index constituents, the top three gainers were Lenovo Group Ltd (00992) up 5.00%, WUXI APPTEC (02359) up 3.39%, and Hua Hong Semiconductor Ltd (01347) up 2.71%; among Hang Seng Tech Index constituents, the top three gainers were Lenovo Group Ltd (00992) up 5.00%, Iluvatar CoreX (09903) up 3.50%, and MINIMAX-W (00100) up 3.31%.

On the downside, the Hang Seng Utilities Index fell 0.35%, the Hang Seng Consumer Staples Index dropped 0.25%, and the Hang Seng Energy Index declined 0.25% — the only three among the 12 Hang Seng industry indices to post losses, while the Hang Seng Financials Index opened flat.

Among Hang Seng Index constituents, the biggest decliners were New Oriental Education & Technology Group Inc (09901) down 3.81% and WH Group Ltd (00288) down 1.91%. WH Group Ltd reported that its revenue for the first three quarters reached US$20.61 billion, up 0.65% year-on-year, while profit attributable to shareholders was US$1.017 billion, down 12.93% year-on-year.

Of the 95 Hang Seng Index constituents, 44 advanced, 25 declined, and 26 opened flat; of the 30 Hang Seng Tech Index constituents, 16 gained, 6 fell, and 8 opened unchanged.

Overnight, all three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.03% at 52,377.57 points, the S&P 500 Index up 0.60% at 7,722.60 points, and the Nasdaq Composite Index up 1.18% at 26,477.81 points; the Philadelphia Semiconductor Index surged 3.6%, with all constituents rising for a second consecutive day.

In the previous trading session on October 27, the Hang Seng Index closed down 0.73% at 23,041.32 points, while the Hang Seng Tech Index fell 1.48% to 3,800.43 points.

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