U.S. markets showed mixed performance on Tuesday as investors awaited remarks from Federal Reserve Chairman Powell. Technology stocks retreated, with the three major indices closing with divergent results. The dollar strengthened while the 10-year Treasury yield declined to around 4.31%. Gold prices moved lower and oil prices also showed weakness.
Hong Kong's three major indices opened collectively lower today. The Hang Seng Index fell 0.61% to 24,968.57 points, the Hang Seng Tech Index dropped 0.75%, and the Hang Seng China Enterprises Index declined 0.64%.
Across sectors, technology stocks posted broad declines with Xiaomi falling over 2%, while JD.com and Kuaishou both dropped more than 1%. New consumer concept stocks showed mixed performance - XPeng Motors gained over 3% while POP MART fell more than 2%. Gaming stocks remained active with Wynn Macau rising nearly 1%. Gold stocks declined broadly, with China Silver Group dropping over 4%. Chinese brokerage stocks weakened, with Huatai Securities falling more than 2%.
EAST BUY surged over 4% after plunging more than 20% in the previous session. SICC opened higher on its first trading day, jumping over 6%.
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