Hang Seng Index Opens 0.81% Higher, Tech Index Gains 0.76%; Tech, Gold Stocks Rise Broadly, Auto Stocks Active, Chip Stocks Continue Correction

Deep News09:26

The U.S. stock market saw mixed performance on Thursday. The latest U.S. non-farm payroll data indicated a significant slowdown in hiring activity, leading to diminished expectations for further interest rate hikes from the Federal Reserve. The Dow Jones Industrial Average reached a new record high, but a pullback in technology stocks dragged down the Nasdaq and S&P 500 indices, resulting in a mixed finish for the three major indices. The U.S. dollar weakened, and the yield on the 10-year Treasury note fell to around 4.46%. Gold prices rebounded significantly, while oil prices initially declined before recovering.

Today, the three major Hong Kong stock indices opened collectively higher. The Hang Seng Index opened up 0.81% at 23,240.85 points. The Hang Seng Tech Index rose 0.76%, and the Hang Seng China Enterprises Index gained 0.82%.

Sector Performance at the Open

Among the sectors, technology and internet stocks mostly rose, with Kuaishou Technology (HKG: 1024) surging over 6%, and Xiaomi Corporation (HKG: 1810), JD.com, Inc. (HKG: 9618), and bilibili Inc. (HKG: 9626) each gaining over 1%, while Lenovo Group Ltd. (HKG: 0992) fell over 2%.

Innovative drug concept stocks opened higher, with RemeGen Co., Ltd. (HKG: 9995) up over 3%.

Gold stocks generally advanced, with Zijin Mining Group Company Limited (HKG: 2899) climbing over 6%.

Automotive stocks were active, with BYD Company Limited (HKG: 1211) rising over 3%.

Semiconductor stocks continued their correction, with Iluvatar CoreX (HKG: 6881) dropping over 3%.

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