Hong Kong Stocks Open Higher: Hang Seng Index Jumps 1.2% With Tech And Gold Sectors Leading The Rally

Deep News09:33

US stocks closed positively on Thursday, supported by dovish comments from Federal Reserve officials. The remarks helped pull US Treasury yields down from recent highs, boosting overall market sentiment, with all three major indices ending the session in positive territory.

The US dollar weakened, while the 10-year Treasury yield eased to around 4.76%. Gold prices rebounded significantly, whereas oil prices held near their recent elevated levels.

Reflecting the upbeat global backdrop, Hong Kong's three major indices opened higher on Friday. The Hang Seng Index rose 1.2% to 25,515.74 points, while the Hang Seng Tech Index climbed 1.46%. The Hang Seng China Enterprises Index also advanced, adding 1.15%.

Across the board, internet and tech names posted widespread gains, with Lenovo Group Ltd (HKG: 0992) surging more than 3%, while JD.com Inc (HKG: 9618), Baidu Inc (HKG: 9888) and Tencent Holdings Ltd (HKG: 0700) each rose over 2%.

Semiconductor stocks also opened strongly, as Hua Hong Semiconductor Ltd (HKG: 1347) gained 2%. China-backed brokerage firms were likewise active, with CITIC Securities Co Ltd (HKG: 6030) advancing over 1%.

Precious metals miners put in a robust performance, led by Chifeng Jilong Gold Mining Co Ltd (HKG: 6893), which jumped more than 3%.

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