Hong Kong Market Opens Mixed: Tech Stocks Diverge, Gold Shares Decline

Deep News07-13 09:34

Following a strong performance on Wall Street last Friday, where major indices closed higher as concerns over Middle East tensions and corporate earnings eased, Hong Kong's market opened with mixed results. The US dollar initially weakened before strengthening, the yield on the 10-year US Treasury note rose to around 4.56%, gold prices edged down, and oil prices were volatile with a downward bias.

Today, Hong Kong's three major indices showed divergent movements at the open. The Hang Seng Index started the session down 0.07% at 24,157.65 points. The Hang Seng Tech Index dipped 0.04%, while the Hang Seng China Enterprises Index gained 0.04%.

Sector Performance Overview

Technology and internet stocks were mixed. Lenovo Group shares rose nearly 1%, while NetEase and Baidu fell more than 1%. Some AI application stocks advanced, with Zhipu AI surging over 4%. Innovative drug concept stocks were active, with Zai Lab climbing more than 4%. Semiconductor stocks were divided, as GigaDevice tumbled over 11%. Gold stocks generally declined, with Lingbao Gold dropping more than 3%.

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