The Hong Kong market opened with a flat start on Wednesday, with the Hang Seng Index unchanged at 25,526.65 points. The Hang Seng Tech Index posted a modest gain of 0.26%, reaching 4,833.44 points, while the State-owned Enterprises Index inched up 0.11% to 8,508.03 points.
Stocks in the artificial intelligence and robotics sectors saw strong opening gains, with UBTECH Robotics Corp (09880) surging over 4% at the open. Zhipu AI (02513) rose more than 3%, and GDS Holdings Ltd (09698) jumped nearly 6%. However, large language model stocks showed mixed performance, with some pulling back.
The healthcare sector was notably strong, as Zai Lab Ltd (09688) opened more than 10% higher, while PharmaEngine Inc (02617) surged nearly 15% at the start of trading.
Chinese internet stocks had a mixed day. NetEase Inc (09999) opened over 1% higher, JD.com Inc (09618) gained nearly 1%, and Alibaba Group Holding Ltd (09988) edged up less than 1%. In contrast, Tencent Holdings Ltd (00700) and Baidu Inc (09888) both opened flat.
The market's cautious tone comes after all three major US indexes fell overnight (the Dow Jones dropped 0.85%, the Nasdaq slipped 0.06%, and the S&P 500 declined 0.18%), though the China Internet ETF (KWEB) managed a slight gain of 0.27%. As a result, Hong Kong stocks opened in a narrow, flat range.
Comments