Hong Kong Shares Open Lower, Tech and Chip Stocks Under Pressure

Deep News06-10 09:33

US markets showed mixed performance on Tuesday, with capital flowing back into traditional sectors and technology stocks facing selling pressure, leading to a split close for the three major indices. The US dollar weakened slightly, while the yield on the 10-year Treasury note fell back to around 4.52%. Gold prices continued their decline, and oil prices also experienced volatile trading with downward pressure.

Today, Hong Kong's three major stock indices opened collectively lower. The Hang Seng Index opened down 0.5% at 24,442.52 points, while the Hang Seng Tech Index fell 0.38% and the Hang Seng China Enterprises Index declined 0.35%.

Key Moves in the Market

Technology and internet stocks were mixed at the open. NetEase, Baidu, and Kuaishou all rose more than 1%. In contrast, Lenovo shares fell over 2%, and JD.com was down more than 1%.

Gold-related stocks opened lower, with Zijin Mining International declining more than 3%.

The optical communications sector saw a pullback, with Yangtze Optical Fibre and Cable Joint Stock Ltd. dropping over 2%.

Semiconductor stocks were also weak, with SMIC shares down more than 1%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment