Hong Kong Stocks Open Lower as Tech and Gold Sectors Weaken

Deep News10-14 09:32

Hong Kong's three major indices opened lower across the board on Wednesday, with the Hang Seng Index slipping 0.26% to 24,282.25 points, the Hang Seng Tech Index dipping 0.02%, and the China Enterprises Index declining 0.16%.

On Wall Street overnight, U.S. stocks closed modestly lower on Tuesday, weighed down by earnings-driven moves as financial shares retreated, though gains in some major technology stocks hitting record highs helped limit the market's decline. The U.S. dollar weakened, while the ten-year Treasury yield fell to 5.21%. Gold prices fluctuated downward, and oil prices hovered near recent highs.

Among individual sectors, internet technology stocks were mostly lower. Lenovo Group Ltd (ASX: 0992) gained over 1%, while Bilibili Inc (ASX: 9626) dropped more than 1%. Meituan (ASX: 3690) and Tencent Holdings Ltd (ASX: 0700) both slipped nearly 1%.

PCB-related concept stocks were active, with Kingboard Laminates Holdings Ltd (ASX: 1888) rising more than 2%.

Some automaker shares advanced, led by NIO Inc (ASX: NIO), which climbed over 2%.

Gold stocks weakened, with Chifeng Jilong Gold Mining Co Ltd (ASX: 600988) falling more than 2%.

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