Hong Kong Stocks Open Mixed as Tech Rebounds, AI and Memory Stocks Surge

Deep News09:32

Wall Street staged a technical rebound on Thursday following a sharp sell-off, with all three major indexes closing higher. The US dollar weakened, the 10-year Treasury yield held around 4.67%, gold prices advanced, while oil prices moved lower.

Hong Kong's three major indices opened mixed on Friday. The Hang Seng Index edged down 0.08% to open at 25,837.72 points, while the Hang Seng Tech Index rose 0.3%. The State-owned Enterprises Index slipped 0.24%.

In sector performance, tech stocks showed mixed results. Lenovo Group surged over 8%, while Baidu and Alibaba both gained more than 2%. On the downside, Xiaomi dropped over 5%, and JD.com fell more than 3%.

Memory concept stocks opened higher, with CSOP Double Long SK Hynix advancing over 14%. PCB concept stocks recovered, led by KB Laminates surging more than 14%. AI application stocks were broadly higher, with Z.AI climbing over 15%.

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