US equities experienced a broad decline on Tuesday, with semiconductor stocks facing selling pressure. A rebound in oil prices further weighed on the market, leading all three major indices to close lower. The US dollar strengthened, the yield on the 10-year Treasury note rose back to around 4.55%, gold prices came under pressure, while oil prices saw a significant increase.
Hong Kong's three major stock indices opened higher today. The Hang Seng Index started the session up 0.19% at 23,541.22 points, the Hang Seng Tech Index rose 0.42%, and the Hang Seng China Enterprises Index gained 0.43%.
Lenovo Group saw its shares rise over 4%, while Xiaomi Corp and Alibaba Group gained more than 1%. Meituan and Bilibili Inc edged slightly lower.
The PCB (Printed Circuit Board) concept showed signs of recovery, with Kingboard Laminates Holdings Ltd shares advancing 4%. The optical communications sector was active, with Yangtze Optical Fibre and Cable Joint Stock Ltd shares rising over 2%.
Most chip stocks traded higher, with GigaDevice Semiconductor Inc shares climbing more than 3%. Gold stocks generally declined, with Chifeng Jilong Gold Mining Co Ltd shares falling over 2%.
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Hong Kong Shares Open Higher: Hang Seng Gains 0.19%, Tech Index Rises 0.42% with PCB and Optical Communications Sectors Rebounding
Deep News09:35
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