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Hang Seng Index Opens 0.07% Lower, Tech Index Drops 0.65%; Weakness in Tech and Auto Stocks, Gold Stocks Rise

Deep News10-31

U.S. stocks closed lower on Thursday as tech stocks showed mixed performance, and Federal Reserve Chair Jerome Powell tempered expectations for rate cuts, weighing on market sentiment. All three major indices ended in the red. The U.S. dollar strengthened, with the 10-year Treasury yield rising to 4.09%, while gold prices rebounded from lows and oil prices fluctuated weakly.

Hong Kong's three major indices opened lower today. The Hang Seng Index fell 0.07% to 26,263.01, the Hang Seng Tech Index dropped 0.65%, and the Hang Seng China Enterprises Index declined 0.35%. Among sectors, most tech stocks declined, with NetEase, Xiaomi, Baidu, and Alibaba falling over 1%. Chinese brokerage stocks mostly rose, with China Merchants Securities up over 1%. Gold stocks were active, with Chifeng Gold gaining over 2%, while auto stocks weakened, with BYD dropping more than 3%.

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