Hong Kong Stocks Open Higher: Hang Seng Index Up 0.69%, Tech Index Gains 1.6% with Broad-Based Tech Rally; White Pigeon Online Soars Over 291% on Debut

Deep News

06/29

U.S. equity markets closed lower on Friday, with reported plans by OpenAI to delay its listing dampening market sentiment. Tech stocks were particularly soft, leading to modest declines across the three major indices. The U.S. dollar retreated, while the yield on the 10-year Treasury note fell to around 4.36%. Gold prices continued their rebound from recent lows, whereas oil prices remained under pressure.

Hong Kong's three major stock indices opened higher today. The Hang Seng Index started the session up 0.69% at 22,827.65 points. The Hang Seng Tech Index advanced 1.6%, and the Hang Seng China Enterprises Index rose 1.03%.

Across the board, technology stocks saw broad-based gains. NetEase Inc (HKG: 9999) surged over 4%, Baidu Inc (HKG: 9888) climbed 4%, while Meituan (HKG: 3690) and JD.com Inc (HKG: 9618) both gained more than 3%. Biopharmaceutical stocks also opened higher, with WuXi Biologics (Cayman) Inc (HKG: 2269) rising over 2%. Gold-related stocks were active, with China Gold International Resources Corp Ltd (HKG: 2099) up more than 1%.

Three new listings debuted today. Libang Medicine-B (HKG: 2105) jumped over 85%, Haiguang Xinzheng (HKG: 2484) soared more than 75%, and White Pigeon Online (HKG: 2360) skyrocketed over 291% on its first day of trading.

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