Hong Kong Stocks Open Lower as Hang Seng Index Drops 0.96%, Tech Index Falls 0.99%, Internet and Insurance Shares Under Pressure

Deep News
10 hours ago

U.S. stocks closed mixed on Thursday, with market sentiment weighed down by rising long-term Treasury yields, as the three major indices ended the session with divergent results. The U.S. dollar strengthened, the 10-year Treasury yield climbed to the 5.2% level, gold prices came under pressure, while oil prices posted solid gains.

Hong Kong's three major indices all opened lower today, with the Hang Seng Index falling 0.96% at the open to 24,523.50 points, the Hang Seng Tech Index dropping 0.99%, and the State-Owned Enterprises Index declining 1.13%.

On the board, internet stocks broadly declined, with NetEase and Alibaba both dropping more than 2%. Some innovative drug concept stocks advanced, with Tongyuantang Pharmaceutical surging over 9%. Insurance stocks weakened, with AIA Group falling nearly 2%. The optical communication sector opened lower, with Yangtze Optical Fibre and Cable declining more than 1%.

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