U.S. stocks retreated on Tuesday; although initially buoyed by softer-than-expected inflation data, the markets reversed from their highs, with all three major indices closing in negative territory. The dollar strengthened, the U.S. 10-year Treasury yield climbed to around 4.18%, gold prices pulled back from highs, while oil prices continued their upward trend.
Today, Hong Kong's three major indices opened collectively higher. The Hang Seng Index started up 0.46% at 26,971.97 points, the Hang Seng Tech Index rose 0.42%, and the Hang Seng China Enterprises Index gained 0.46%. Among sectors, technology stocks were mixed: Alibaba rose over 2%, while Kuaishou, Baidu, and Tencent gained over 1%; JD.com fell nearly 1%. Innovative drug concepts extended their gains, with BeiGene rising over 3%. The non-ferrous metals sector was active, as Zijin Mining Group advanced over 1%. Lithium battery stocks opened higher, with Contemporary Amperex Technology (CATL) up over 1%. Auto stocks were partially weaker, with NIO declining over 1%.
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