US markets continued their upward trajectory on Wednesday, buoyed by encouraging inflation data, with all three major indices closing in positive territory. The US dollar weakened, and the yield on the ten-year Treasury note retreated to around 4.55%. Gold prices initially fell before recovering, while oil prices were steady with slight fluctuations.

Hong Kong's three major stock indices opened higher today. The Hang Seng Index started the session up 0.58% at 24,825.02 points. The Hang Seng Tech Index rose by 0.15%, and the Hang Seng China Enterprises Index gained 0.61%.

Market Activity and Key Movers

The technology and internet sector was mostly positive. Alibaba Group Holding Ltd shares advanced more than 2%, while Bilibili Inc, Meituan, and Baidu Inc each rose over 1%. In contrast, Lenovo Group Ltd shares fell more than 3%.

Stocks related to innovative drug development showed active trading, with Zai Lab Ltd shares climbing over 2%. Gold stocks also opened higher, with Zijin Mining Group Co Ltd shares gaining more than 2%.

Sectors Under Pressure

The optical communications sector saw broad declines, with Yangtze Optical Fibre and Cable Joint Stock Ltd shares dropping over 7%. PCB (Printed Circuit Board) concept stocks experienced a pullback, with Kingboard Laminates Holdings Ltd shares down more than 6%. Chipmakers were also subdued, with GigaDevice Semiconductor Inc shares falling over 5%.