Hong Kong Stocks Open Lower as Tech Shares Slump, Gold Miners Advance-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Hong Kong Stocks Open Lower as Tech Shares Slump, Gold Miners Advance

Deep News08-18 09:32

Hong Kong's benchmark indices kicked off Tuesday's trading session in negative territory, tracking overnight losses on Wall Street where all three major US indexes closed lower amid persistent uncertainty surrounding the Middle East situation.

The US dollar showed mixed weakness while the yield on the 10-year Treasury note rebounded to 4.72%, with both gold and oil prices trending upward in the commodities market. Following this backdrop, the three major Hong Kong indices opened collectively lower, with the Hang Seng Index dipping 0.33% to 25,368.87 points, the Hang Seng Tech Index losing 0.28%, and the Hang Seng China Enterprises Index shedding 0.29%.

Sector-wise, technology stocks displayed a predominantly downward bias with Baidu Inc (NASDAQ: BIDU) climbing 1%, while JD.com Inc (NASDAQ: JD), Meituan (HKG: 3690), and Xiaomi Corp (HKG: 1810) each dropped more than 1%. In contrast, the optical communication sector opened strongly with Zhongji Innolight Co Ltd (SHE: 300308) surging over 3%. Semiconductor stocks also showed notable activity as Montage Technology Co Ltd (SHE: 688008) advanced more than 2%. Meanwhile, gold mining counters extended their recent rally, with Zijin Gold International (HKG: 1818) jumping over 4% at the open.

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