U.S. stocks declined sharply last Friday amid ongoing geopolitical tensions and persistently high oil prices, which drove bond yields higher and weighed on the market. All three major indices closed lower. The U.S. dollar strengthened, with the 10-year Treasury yield rising to around 4.39%. Gold prices came under significant pressure, while oil prices remained elevated.

Today, Hong Kong's three major indices opened lower. The Hang Seng Index fell 1.93% at the open to 24,789.14 points, the Hang Seng Tech Index dropped 1.9%, and the Hang Seng China Enterprises Index declined 1.64%. Across the board, technology stocks saw broad declines, with Baidu down over 4%, Bilibili falling more than 3%, and Kuaishou, Alibaba, and Tencent each dropping over 2%. Gold stocks were generally lower, led by CHIFENG GOLD, which plunged more than 18%. Pharmaceutical innovation concept stocks also opened lower, with Grand Pharmaceutical Group falling over 10%. Most semiconductor stocks declined, with Gigadevice Semiconductors down over 6%. In contrast, oil and gas stocks bucked the trend, with BJ Services rising over 5%. Two new stocks debuted today, with FS Innovation surging over 32% and Nations Technologies climbing over 34%.