Hang Seng Index Opens Lower by 0.34%, Tech Index Falls 0.35%; Tech and Gold Stocks Weaken, Innovative Drug Concept Active

Deep News05-20 09:35

U.S. stocks closed lower on Tuesday, with rising global bond yields dampening market sentiment, leading all three major indices to end in negative territory. The U.S. dollar strengthened, the 10-year Treasury yield climbed to around 4.67%, gold prices fell sharply, and oil prices remained elevated.

Hong Kong's three major stock indices opened lower today. The Hang Seng Index started down 0.34% at 25,709.62 points, the Hang Seng Tech Index fell 0.35%, and the Hang Seng China Enterprises Index declined 0.19%. In sector performance, most technology and internet stocks declined, with JD.com rising 0.64%, while Baidu and Kuaishou fell over 1%. The innovative drug concept showed activity, with BeiGene rising over 1%. Gold stocks continued their weakness, with Zhaojin Mining dropping over 1%. Airline stocks opened lower, with China Southern Airlines down over 1%. Two new stocks debuted today: Top CNC surged over 40% on its first day, while UIS Technology fell over 7%.

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