On September 29, Hong Kong's three major indices opened mixed before collectively turning lower.

The Hang Seng Index opened up 0.02% at 24,648.64 points, and was last down 0.59% at 24,496.54 points. The Hang Seng Tech Index opened down 0.21% at 4,286.90 points, and was last down 1.30% at 4,240.35 points. The China Enterprises Index opened up 0.13% at 8,227.19 points, and was last down 0.58% at 8,168.85 points.

In terms of sectors, pharmaceutical stocks bucked the trend, with the Hang Seng Healthcare Index opening up 1.29%.

Among Hang Seng Index constituents, AKESO (09926), CSPC Pharmaceutical Group (01093), and JD Health (06618) were among the top gainers, last up 9.78%, 1.12%, and 1.01% respectively.

AKESO traded at HK$101. Its overseas partner Summit Therapeutics announced that AstraZeneca will make a strategic equity investment of US$2 billion in Summit, and the two parties plan to advance clinical exploration of combination therapies involving ivonescimab and AstraZeneca's oncology drugs.

Tech stocks broadly declined, with the Hang Seng Information Technology Index opening down 0.11% and last widening its decline to 1.01%.

Among Hang Seng Index constituents, New Oriental Education & Technology Group (09901), Sun Hung Kai Properties (00016), and Innovent Biologics (01801) were among the biggest decliners, last down 2.69%, 1.30%, and 0.99% respectively.

Mainland property stocks showed selective activity, with Sunac China Holdings (01918) up 1.57% at HK$0.645.

Gold stocks moved lower, with Chifeng Gold (06693) down 0.89% at HK$33.5. The Hang Seng Materials Index opened down 0.40%.

Four new stocks listed today. Benmo Technology (06731) opened up 4.07% and briefly extended gains, last up 6.48% at HK$23. Kingwong Electronics (03228), Tongcheng New Material (09607), and Robotech (03757) opened down 6.98%, 9.09%, and 3.76% respectively, and were last down 1.97%, 10.23%, and 7.57%, still below their issue prices.

Overnight, all three major U.S. indices closed lower. The Nasdaq fell 0.92%, the S&P 500 dropped 0.77%, and the Dow declined 0.67%. The Philadelphia Semiconductor Index fell 1.61%.

Spot gold closed down 3.98% at US$4,115.00 per ounce. Spot silver dropped 5.71% to US$60.64 per ounce.