U.S. stocks stabilized after an initial decline on Wednesday. Early in the session, major indices opened lower and extended losses following producer price index data that significantly exceeded expectations. Subsequently, a rebound led by technology stocks pushed the S&P 500 and Nasdaq to new record highs, with the three major indices closing mixed. The U.S. dollar remained steady, while the yield on the 10-year Treasury note held around 4.46%. Gold prices were volatile with a slight downward bias, and oil prices continued to hover near recent highs.
In today's trading, Hong Kong's three major stock indices opened collectively higher. The Hang Seng Index started the session up 1.7% at 26,836.66 points. The Hang Seng Tech Index surged 3.23%, and the Hang Seng China Enterprises Index gained 2.18%.
Across the board, technology and internet stocks saw broad-based gains. Alibaba jumped over 7%, while Baidu rose more than 6%. Kuaishou and Bilibili both advanced over 4%. Power equipment stocks also opened higher, with Flat Glass Group climbing more than 2%. Semiconductor stocks collectively rose, with Mega IC Design leading the pack with a gain exceeding 14%. Automobile stocks were active, with Nio up over 6%.
Comments