Hong Kong Stocks Open Lower as Hang Seng Index Slips Below 24000 Points, Tech and Gold Shares Retreat

Deep News11-13 09:31

Hong Kong stocks opened lower on Friday, with all three major indices declining at the open. The Hang Seng Index fell 0.57% to 23,871.91 points, slipping below the 24,000-point mark. The Hang Seng Tech Index dropped 0.35%, while the China Enterprises Index lost 0.57%.

On Wall Street, US stocks declined on Thursday. The resignation of Nvidia's CEO Jensen Huang weighed on market sentiment, with technology stocks experiencing notable adjustments and all three major US indices closing lower. The US dollar continued to strengthen, and the US 10-year Treasury yield surged to 5.1%. Gold prices saw significant corrections, while oil prices fluctuated upward.

Among sector performance in Hong Kong, internet and tech stocks broadly declined. Tencent, NetEase, and Meituan each dropped more than 1%. The optical communication sector opened higher, with Zhongji Innolight rising over 2%. Innovative drug concept stocks mostly fell, with BeiGene declining more than 2%. Gold stocks weakened, as Chifeng Gold dropped over 4%. Guoxing Aerospace debuted on the Hong Kong Stock Exchange, opening more than 1% lower on its first day of trading.

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