Hong Kong Stocks Open Lower: Hang Seng Down 1%, Tech Index Drops 1.34%; Tech and Brokerage Stocks Decline, Baidu Falls Over 3%

Deep News12-15

U.S. stocks closed lower on Friday, with tech stocks underperforming and dragging down the broader market. All three major indices ended in negative territory. The dollar stabilized near recent lows, while the 10-year U.S. Treasury yield rose to 4.19%. Gold prices continued their upward trend, while oil prices faced downward pressure.

Today, Hong Kong's three major indices opened lower. The Hang Seng Index fell 1% at the open to 25,718.14 points, while the Hang Seng Tech Index dropped 1.34%, and the Hang Seng China Enterprises Index declined 1.09%.

In the market, tech stocks broadly declined, with Baidu dropping over 3%, Alibaba down more than 2%, and NetEase, Tencent, Xiaomi, Bilibili, and Kuaishou all falling over 1%. The biotech sector weakened, with WuXi Biologics slipping more than 2%. Chinese brokerage stocks also saw collective declines, with Everbright Securities down over 1%.

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