Hong Kong Shares Open Lower as Tech Stocks Weigh, Chipmakers Gain

Deep News04-23 09:33

U.S. stocks advanced on Wednesday, driven by President Trump's announcement of an extended ceasefire between the U.S. and Iran, which boosted market sentiment. The Nasdaq and S&P 500 indices reached new closing highs, with all three major U.S. indexes finishing the session in positive territory. The U.S. dollar strengthened, while the yield on the 10-year Treasury note rose to around 4.3%. Gold prices stabilized after fluctuating, and oil prices remained elevated.

In Hong Kong, the three major indexes opened lower collectively. The Hang Seng Index started down 0.25% at 26,098.81 points. The Hang Seng Tech Index declined 0.04%, and the Hang Seng China Enterprises Index fell 0.03%. Sector-wise, most technology and internet stocks declined. NetEase dropped over 1%, while Tencent and JD.com fell nearly 1%. Alibaba saw a gain of close to 1%. Power equipment stocks opened higher, with Dongfang Electric rising more than 4%. Semiconductor shares generally advanced, with GigaDevice Semiconductor climbing 6%. Some innovative drug concept stocks declined, with Zai Lab falling over 4%.

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