Major U.S. stock indices declined sharply on Friday, pressured by a global surge in bond yields. All three major indexes closed with significant losses. The U.S. dollar strengthened, with the yield on the 10-year Treasury note approaching 4.6%. Gold prices fell substantially, while oil prices showed resilience.
Hong Kong's three major stock indices opened lower today. The Hang Seng Index started the session down 0.48% at 25,838.96 points. The Hang Seng Tech Index dropped 0.88%, and the Hang Seng China Enterprises Index fell 0.5%.
Sector performance was mixed at the open. Technology and internet stocks were broadly lower, with JD.com and Kuaishou declining over 2%, and Alibaba down more than 1%. Chinese brokerage stocks were active, with China Merchants Securities rising over 4%. Oil stocks advanced, as PetroChina gained over 1%. Gold stocks were generally weak, with Lingbao Gold falling more than 3%. ROBOTPHOENIX made its market debut today, surging nearly 80% on its first trading day.
