Hong Kong Shares Open Lower as Tech and Internet Stocks Decline

Deep News03-12 09:42

U.S. stocks showed mixed performance on Wednesday, with rising oil prices weighing on market sentiment. The three major indices closed with varied results. The U.S. dollar strengthened, while the yield on the 10-year Treasury note climbed back to around 4.23%. Gold prices retreated, and oil prices continued to fluctuate.

Today, Hong Kong's three major indices opened lower. The Hang Seng Index fell 0.69% at the open to 25,719.47 points. The Hang Seng Tech Index dropped 0.6%, and the Hang Seng China Enterprises Index declined 0.41%.

Sector-wise, technology and internet stocks broadly declined. Bilibili fell over 2%, while Alibaba, Kuaishou, Meituan, and Lenovo each dropped more than 1%. The securities and brokerage sector opened lower, with GUOTAI JUNAN I sliding over 4%. Gold stocks pulled back, as China Gold International decreased over 1%. In contrast, oil and gas equipment and service stocks opened higher, with Shandong Molong rising over 14%.

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