Market Snapshot: Hang Seng Index Opens 0.62% Higher, Tech Index Up 0.85%; Tech Stocks Broadly Rise, Gold Shares Fall, Chip Stocks Open Strongly; Longcheer Tech Jumps Nearly 13% on Debut

Deep News01-22 09:41

US markets staged a significant rebound on Wednesday, buoyed by former President Trump's indication that he would not proceed with planned tariff hikes on several European nations, which helped to ease geopolitical tensions and spurred a market-wide advance. All three major indices closed with substantial gains. The US dollar recovered from its lows, while the yield on the 10-year Treasury note retreated to around 4.25%. Gold prices initially climbed but later gave up their gains, whereas oil prices trended positively.

Hong Kong's three major indices opened collectively higher today. The Hang Seng Index started the session up 0.62% at 26,750.51 points, the Hang Seng Tech Index rose 0.85%, and the Hang Seng China Enterprises Index gained 0.55. Sector-wise, technology and internet stocks generally advanced, with Baidu surging over 3%, and Alibaba and Kuaishou both rising more than 1%. Chip stocks opened strongly, with Gigadevice Semiconductors leaping over 7%. Innovative drug concepts were active, as Wuxi Biologics climbed over 1%. Conversely, gold stocks were broadly lower, with Shandong Gold falling more than 2%. Shanghai Longcheer Technology Co., Ltd. made its market debut today, opening over 12% higher.

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