Hong Kong Stocks Open Mixed as Hang Seng Edges Up 0.02%, Tech Index Slips 0.21%; Gold Miners Retreat, Biotech Concept Stocks Rally, and Three of Four New Listings Break Issue Price

Deep News
09/29

U.S. markets came under pressure on Monday, with oil prices surging at one point, while rising global bond yields weighed on the broader market, sending all three major indices lower at the close.

The U.S. dollar strengthened, and the 10-year U.S. Treasury yield climbed to 5.24%, putting significant pressure on gold prices, while oil prices fluctuated upward.

Today, Hong Kong's three major indices opened with mixed results. The Hang Seng Index opened up 0.02% at 24,648.64 points. The Hang Seng Tech Index fell 0.21%, while the State-owned Enterprises Index rose 0.13%.

On the board, tech and internet stocks declined broadly, with Alibaba dropping more than 1%. Biotech concept stocks opened higher, with Kintor Pharmaceutical surging more than 8%. Mainland property stocks were active, with Sunac China rising more than 2%. Gold stocks continued to fall, with Chifeng Gold dropping more than 2%.

Four new stocks listed today. Benmo Technology opened more than 4% higher, while Kingwong Electronics, Tongcheng New Materials, and Robotech all broke their issue prices.

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