Market data for June showed U.S. manufacturing output remained flat, missing expectations for a 0.1% increase. Following this, U.S. stock indices closed lower on Friday, with the Dow Jones, S&P 500, and Nasdaq declining by 0.77%, 1.01%, and 1.4% respectively.

The Hong Kong market opened positively today, with the Hang Seng Index rising 1.11% to 24,835.03 points. The Hang Seng Tech Index advanced 2.2%, and the Hang Seng China Enterprises Index gained 1.43%.

Market Overview

Technology stocks were broadly higher at the open. Shares of Alibaba Group Holding Ltd, Bilibili Inc, Meituan, Lenovo Group Ltd, Kuaishou Technology, JD.com Inc, and Xiaomi Corp all rose more than 2%.

Sector Performance

Stocks in the printed circuit board (PCB) sector generally gained, with Kingboard Laminates Holdings Ltd shares climbing over 4%.

The optical communications sector saw a rebound, with Yangtze Optical Fibre and Cable Joint Stock Ltd Co shares surging more than 6%.

Chip stocks opened higher, with shares of Montage Technology Co Ltd rising over 6%.

Chinese brokerage stocks were also active, with CITIC Securities Co Ltd shares up more than 1%.