Hong Kong Shares Open Mixed as Tech and Energy Divergence Unfolds

Deep News07-14 09:32

US equities closed lower on Monday, with renewed tensions in the Middle East and a sharp spike in oil prices weighing on markets, leading to declines across the three major indices. The US dollar strengthened, with the yield on the 10-year Treasury note climbing to around 4.62%. Gold prices saw a notable pullback, while oil prices surged significantly.

Hong Kong's three major indices opened with a mixed performance today. The Hang Seng Index started the session down 0.13% at 24,181.52 points, the Hang Seng Tech Index fell 0.25%, and the Hang Seng China Enterprises Index was essentially flat, dipping a marginal 0.01%.

Tech and Internet Stocks Show Divergence

Among the sectors in focus, technology and internet stocks displayed a split performance at the open.

Oil and Gas Stocks Start Strong

Shares in the oil and gas sector opened higher. Shandong Molong Petroleum Machinery Company Limited (ASX: 00568) saw a significant gain, rising over 14%.

Gold Equities Continue to Retreat

Gold stocks extended their recent decline, with Zijin Mining Group International falling more than 2%.

PCB Sector Sees a Rebound

Stocks related to printed circuit board (PCB) concepts showed signs of recovery. Kingboard Laminates Holdings gained 5%.

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