Market Update: Hang Seng Index Opens Down 0.5%, Tech Index Falls 0.82%, Tech and Gold Stocks Decline, Innovative Drug Concepts Active, POP MART Opens Up 7.83%

Deep News
2025/10/22

In the latest market developments, US stocks showed mixed performance on Tuesday, with the Dow Jones hitting a new high while technology stocks weakened. The Nasdaq experienced repeated declines, resulting in the three major indices closing with varied outcomes. The US dollar strengthened, the yield on ten-year Treasury bonds dropped to 3.96%, gold prices significantly decreased, and oil prices remained low.

Today, Hong Kong's three major indices opened lower, with the Hang Seng Index down 0.50% at 25,897.62 points, the Hang Seng Tech Index down 0.82%, and the China Enterprises Index down 0.44%. The market saw a widespread decline in tech stocks, with Baidu, NetEase, Alibaba, and Kuaishou each falling over 1%. In contrast, many innovative drug concepts opened higher, with IMMUNOTECH-B rising over 9%. Chinese brokerage stocks were active, with CITIC Securities gaining over 1%. However, gold stocks faced a broad decline, with Zijin Mining International falling over 6%. The new consumption sector showed a divergence, with POP MART opening up 7.83% while Laopu Gold dropped over 3%.

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