Hong Kong Stocks Open Higher; Tech Index Rises 0.33% on Memory and AI Sector Gains

Deep News08-05 09:32

US markets extended their rally on Tuesday, driven by strong corporate earnings and a sharp decline in oil prices. The Dow Jones Industrial Average and the S&P 500 both hit new record highs, with all three major indexes posting significant gains. The US dollar weakened, while the yield on the 10-year Treasury note fell to 4.61%. Gold prices rebounded from recent lows, and oil prices experienced a notable drop.

Hong Kong's stock market opened higher on Wednesday, with all three major benchmarks gaining. The Hang Seng Index rose 0.15% to 25,890.99 points, the Hang Seng Tech Index gained 0.33%, and the Hang Seng China Enterprises Index edged up 0.13%.

Sector-wise, tech stocks showed mixed performance. Lenovo Group Ltd jumped over 3%, and Alibaba Group Holding Ltd climbed more than 2%. Conversely, Meituan fell over 1%, and NetEase Inc dropped nearly 1%. Memory concept stocks opened higher, with CSOP Double Long SK Hynix surging over 6%. AI application stocks were active, with MiniMax advancing more than 3%. Gold stocks recovered, with Zijin Gold International rising over 1%.

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