Hong Kong Shares Open Mixed with Tech Under Pressure and Consumer Plays in Focus; Pop Mart Gains on Earnings

Deep News05-13

U.S. stocks showed mixed performance on Tuesday, with tech stocks facing pressure at higher levels, dragging down the broader market. The three major indices closed with divergent results. The U.S. dollar held steady, while the yield on the 10-year Treasury note rose to around 4.46%. Gold prices were volatile with a soft bias, and oil prices performed positively.

Hong Kong's three major indices opened collectively lower today. The Hang Seng Index opened up 0.08% at 26,310.87 points, the Hang Seng TECH Index fell 0.3%, and the Hang Seng China Enterprises Index declined 0.05%. In terms of sector performance, most technology and internet stocks opened lower, with Baidu, Bilibili, and NetEase falling over 1%, while JD.com rose more than 3%. Power equipment stocks opened higher, with Wecan Group surging over 14%. New consumption concept stocks were active, with Pop Mart gaining over 3%. Non-ferrous metals stocks generally rose, with China Molybdenum advancing over 2%. Chip stocks experienced a pullback, with Hua Hong Semiconductor dropping more than 2%.

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