Hang Seng Index Opens Higher with Tech Stocks Leading Gains, New Listing Soars

Deep News06-24

US markets closed lower on Tuesday as concerns over high valuations in artificial intelligence-related stocks triggered a sell-off, with technology shares experiencing the most significant adjustment. The Nasdaq fell over 2%, leading the three major indices to close in negative territory. The US dollar strengthened, while the yield on the 10-year Treasury note retreated to around 4.45%. Gold and oil prices remained under pressure.

Today, Hong Kong's three major stock indices opened higher collectively. The Hang Seng Index opened up 0.36% at 23,420.70 points, the Hang Seng Tech Index rose 0.48%, and the Hang Seng China Enterprises Index gained 0.42%. In terms of sector performance, technology and internet stocks were mostly higher, with Lenovo and Baidu rising over 2%. Gold stocks were weak, with Lingbao Gold falling more than 1%. Automotive stocks were active, with NIO up over 4%. Some pharmaceutical stocks advanced, with Baoji Pharmaceutical gaining over 6%. Shaanxi Micot Pharmaceutical Technology Co., Ltd. and Xian Gong Intelligent listed today, with Shaanxi Micot Pharmaceutical Technology Co., Ltd. surging nearly 87% on its debut.

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