Hong Kong Market Opens Higher: Tech and Gold Stocks Lead Gains, Lenovo Surges Over 8%

Deep News07-10 09:32

Major US stock indices closed higher on Thursday, with chip stocks broadly advancing and driving the overall market upward. The US dollar weakened, while the yield on the 10-year US Treasury note retreated to around 4.54%. Gold prices rebounded from their lows, and oil prices declined from recent highs.

The three major Hong Kong stock indices opened higher today. The Hang Seng Index opened up 0.76% at 24,213.44 points, the Hang Seng Tech Index rose 1.25%, and the Hang Seng China Enterprises Index gained 0.85%.

Market Performance Overview

Technology and internet stocks were broadly higher. Lenovo Group (HKG: 0992) surged more than 8%, while Baidu Inc (HKG: 9888) rose over 3%.

Stocks related to printed circuit boards (PCB) also saw gains, with Kingboard Laminates Holdings Ltd (HKG: 1888) up over 2%.

Chip stocks mostly advanced, with GigaDevice Semiconductor Inc (SHA: 603986) climbing more than 5%.

Gold stocks regained strength, with Chifeng Jilong Gold Mining Co Ltd (SHA: 600988) rising over 1%.

Two companies debuted on the main board of Hong Kong's stock exchange today. Jinghe Integrated Circuit Co Ltd (HKG: 6882) jumped more than 11%, while Binzhou Huaan New Material Co Ltd (HKG: 9666) fell over 21%.

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