US stocks had a mixed session on Tuesday. Strong corporate earnings boosted the Dow Jones by over 700 points at one stage, but pressure on chip stocks weighed on the Nasdaq. The three major indexes closed with varied results. The US dollar initially fell before stabilizing, while the yield on the 10-year US Treasury note dropped to 4.61%. Gold prices showed weakness, and oil prices also saw a significant decline.

In Hong Kong today, the three major indexes opened higher collectively. The Hang Seng Index rose 0.7% to 25,487.16 points. The Hang Seng Tech Index climbed 1.02%, and the Hang Seng China Enterprises Index added 0.76%.

Market Movers:

On the sector front, tech and internet stocks saw broad gains. Xiaomi Corp, Meituan, Alibaba Group Holding Ltd, Tencent Holdings Ltd, and Baidu Inc all rose over 1%. Artificial intelligence (AI) application stocks also surged at the open, with MINIMAX jumping more than 4%. Oil and gas stocks were active, with Shandong Molong Petroleum Machinery Co Ltd gaining over 5%. Automobile stocks were broadly higher, led by Li Auto Inc which rose more than 4%.