Hong Kong Shares Open Lower: Hang Seng Index Down 0.82%, Tech Index Falls 1.31%

Deep News
Feb 05

US stocks showed mixed performance on Wednesday as concerns grew over artificial intelligence's potential impact on the software sector, prompting a shift of funds into traditional stocks for safety, resulting in a divided close for the three major indices. The US dollar strengthened, with the yield on the 10-year Treasury note climbing to around 4.27%, while gold prices initially rose before retreating, and oil prices continued their upward trend.

Today, Hong Kong's three major stock indices opened collectively lower. The Hang Seng Index started the session down 0.82%, at 26,627.95 points, the Hang Seng Tech Index fell 1.31%, and the Hang Seng China Enterprises Index declined by 0.77%. Across the market, most technology and internet stocks declined, with Bilibili dropping over 4%, while Alibaba, Kuaishou, and Meituan each fell more than 2%; Baidu, however, gained over 2%. Gold stocks experienced a pullback, with Chifeng Gold declining over 2%. Semiconductor stocks opened lower, with GigaDevice Semiconductor falling more than 4%. Property developers in mainland China weakened, with Future Land Development dropping over 6%.

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