Market sentiment was mixed on Wednesday as US stocks initially rose on hopes of easing geopolitical tensions and strong corporate earnings, but later retreated from session highs. The Dow and S&P 500 briefly touched new record levels before pulling back, with the three major indexes ending the session mixed. The dollar weakened, while the 10-year US Treasury yield held steady around 4.61%. Gold prices moved notably higher, while oil prices remained range-bound near recent lows.
Hong Kong's three major stock indexes opened lower on Thursday. The Hang Seng Index fell 0.96% to open at 25,667.14 points, the Hang Seng Tech Index dropped 0.99%, and the Hang Seng China Enterprises Index slipped 0.56%.
In sector performance, tech and internet stocks were broadly weaker. Lenovo Group and Baidu Inc each fell over 2%, while Bilibili Inc dropped 2%. Gold mining stocks bucked the trend, opening higher with Chifeng Jilong Gold Mining Group Limited surging over 9%. On the downside, PCB concept stocks were under pressure, with Kingboard Laminates falling over 4%. Memory chip-related stocks also opened lower, with CSOP SK Hynix declining 15%.
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Hong Kong Stocks Open Lower: Hang Seng Index Falls 0.96%, Tech Stocks Slide, Gold Miners Rally
Deep News08-06 09:39
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