Hong Kong Market Opens Higher as Tech Stocks Lead Gains, Tencent Jumps Nearly 3%

Stock News09-22 09:53

Hong Kong's benchmark Hang Seng Index opened 0.51% higher at 25,170.80 points, with the Hang Seng Tech Index climbing 1.01% to 4,467.90 points. The Hang Seng China Enterprises Index advanced 0.40% to 8,373.03 points.

The Hang Seng Information Technology Index surged 2.25% to lead all sector indices, while the Hang Seng Non-Essential Consumer Goods Index rose 0.88%. Among Hang Seng Tech Index constituents, Tianzhixin (09903) jumped 5.85%, MINIMAX-W (00100) gained 5.44%, and Tencent Music-SW (01698) advanced 4.91%, leading the gains. Within the Hang Seng Index, Tencent (00700) climbed 2.98%, Hua Hong Semiconductor (01347) added 2.68%, and SMIC (00981) rose 2.13%.

Optical module maker Nazhen Technology (09856) made its market debut today, opening 11.04% higher at HK$36.60 per share. On the downside, the Hang Seng Energy Index fell 0.70% to lead sector declines, and the Hang Seng Industrial Index dropped 0.25%. Among Hang Seng Index constituents, ZTO Express-W (02057) declined 6.09%, New Oriental-S (09901) slipped 1.88%, and China Shenhua (01088) eased 1.11%. In the Hang Seng Tech Index, Li Auto-W (02015) slid 1.06%, Leapmotor (09863) lost 0.81%, and BYD Company (01211) dipped 0.55%.

Overnight, all three major U.S. indices closed higher, with the Dow Jones Industrial Average advancing 0.71%, the S&P 500 gaining 1.49%, and the Nasdaq Composite climbing 2.26% to a record closing high. The Philadelphia Semiconductor Index jumped 4.29%, while the yield on the 10-year U.S. Treasury fell to 4.95%. The Nasdaq Golden Dragon China Index rose 0.71%, although ZTO Express ADR dropped 7.20% and Li Auto ADR fell 5.11% in U.S. trading.

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