Hong Kong Stocks Open Lower Despite Wall Street Tech Rally

MT Newswires Live10:04

Hong Kong stocks opened slightly lower on Friday as investors took a cautious stance despite a strong overnight rally in U.S. technology shares fueled by upbeat earnings.

The Hang Seng Index slipped 21.16 points to open at 25,837.72, while the Hang Seng China Enterprises Index edged down 0.2%, or 21.01 points, to 8,623.70.

Wall Street ended sharply higher overnight after stronger-than-expected results and upbeat outlooks from Microsoft and Amazon eased concerns over heavy artificial intelligence spending.

Oil prices edged higher as tensions in the Middle East persisted, though markets remained focused on the outlook for artificial intelligence spending and global monetary policy.

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