US markets showed mixed performance on Monday, with technology stocks staging a rebound. The three major indices closed with divergent results. The US dollar weakened, while the yield on the 10-year Treasury note climbed to around 4.56%. Gold prices were volatile with a softer bias, and oil prices initially rose before retreating.
The three major Hong Kong stock indices opened lower today. The Hang Seng Index started the session down 0.43% at 24,551.93 points. The Hang Seng Tech Index fell 0.26%, and the Hang Seng China Enterprises Index declined 0.33%.
Key Sector Movements
Looking at sector performance, most technology and internet stocks were in the red. Baidu Inc (NASDAQ: BIDU) gained 0.6%, while shares of Bilibili Inc (NASDAQ: BILI), Kuaishou Technology (HKG: 1024), Alibaba Group Holding Ltd (NYSE: BABA), and Xiaomi Corp (HKG: 1810) all fell more than 1%.
Semiconductor stocks saw a recovery, with Montage Technology Co Ltd (SHA: 688008) surging over 6%.
Gold-related stocks opened higher, with Zijin Mining Group Co Ltd (HKG: 2899) rising more than 2%.
The optical communications sector was broadly higher, with Yangtze Optical Fibre and Cable Joint Stock Ltd (HKG: 6869) advancing more than 5%.
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Hong Kong Market Opens Lower: Hang Seng Index Down 0.43%, Tech Sector Weighs
Deep News06-09 09:33
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