Hong Kong Stocks Open Lower: HSI Down 0.97%, Tech Index Drops 1.75%; Tech and Gold Stocks Decline, Auto Shares Weak; SERES Falls Nearly 2% on Debut

Deep News

Nov 05

U.S. stocks closed sharply lower on Tuesday amid warnings from investment banks about a potential market correction, triggering a sell-off. The dollar strengthened, while the 10-year Treasury yield retreated to 4.08%. Gold and oil prices also softened.

Hong Kong's major indices opened lower today, with the Hang Seng Index (HSI) down 0.97% to 25,701.63, the Hang Seng Tech Index falling 1.75%, and the Hang Seng China Enterprises Index dropping 1.07%.

Tech stocks led the decline, with Bilibili and Kuaishou losing over 2%, while Xiaomi, Baidu, Alibaba, Lenovo, Tencent, JD.com, Meituan, and NetEase fell more than 1%. Gold stocks extended losses, with Zijin Mining International dropping over 3%. Auto shares weakened, with SERES slipping nearly 2% on its first trading day. Lithium battery stocks mostly retreated, as Ganfeng Lithium slid more than 4%.

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