Hong Kong Stocks Open Sharply Higher as Hang Seng Tech Rises Over 1%, Tech Shares Rally Broadly, Relyez Energy Surges More Than 114% on Debut

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U.S. stocks ended mixed last Friday, with technology shares rebounding from steep sell-offs to close off their lows, as the Nasdaq outperformed while the three major indexes finished with varying results. The dollar strengthened, the U.S. 10-year Treasury yield climbed back to 4.85%, gold prices remained choppy and weak, and oil prices trended lower.

Hong Kong's three major indexes all opened higher today, with the Hang Seng Index rising 0.59% to 24,625.71 points, the Hang Seng Tech Index gaining 1.02%, and the China Enterprises Index up 0.62%.

On the board, internet and tech stocks advanced broadly, with Alibaba and Baidu both up more than 2%. Innovative drug concept shares opened higher, with Zai Lab surging over 8%. Lithium battery stocks were active, with CATL up more than 1%. Gold shares rose across the board, with Tongguan Gold gaining over 1%. Relyez Energy (HKEX: 09621) listed on the Hong Kong Stock Exchange, opening more than 114% higher on its first day of trading.

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