Hong Kong Stock Market Opening | Hang Seng Index opened up 0.24%, tech stocks diverged, Alibaba-W rose over 2%, gold stocks strengthened
On August 11th, Hong Kong stocks opened slightly higher, with the Hang Seng Index rising 0.24% to 25,998.59 points. Driven by the overnight strength of the NASDAQ Golden Dragon China Index and the rise in gold and oil prices, Alibaba, gold stocks, and oil stocks performed strongly; however, tech stocks showed divergence, with the semiconductor sector weakening due to the drag from U.S. stocks
According to Zhitong Finance APP, on August 11, the Hang Seng Index opened up 0.24%, at 25,998.59 points; the Hang Seng Tech Index rose 0.27%, at 4,932.81 points; the National Enterprises Index increased by 0.37%, at 8,654.06 points.
On the market, tech stocks showed mixed performance, with Alibaba-W (09988) rising over 2%, NetEase-SW (09999) increasing nearly 2%, and Meituan-W (03690) nearly flat; Xiaomi Group-W (01810) fell nearly 1%, and JD Group-SW (09618) dropped 0.46%. Driven by the overnight rise of the NASDAQ Golden Dragon China Index by 1.65%, Chinese concept stocks like Alibaba opened higher.
Gold stocks strengthened, with Shandong Gold (01787) rising over 2% and Zhaojin Mining (01818) also increasing over 2%. The overnight COMEX gold futures rose by 1.11%, boosting the gold sector's opening.
The semiconductor sector weakened, with Hua Hong Semiconductor (01347) falling nearly 1% and SMIC (00981) dropping nearly 1%. This was dragged down by the overnight nearly 3% decline in the Philadelphia Semiconductor Index and a 2.87% drop in NVIDIA.
Oil stocks strengthened, with China National Offshore Oil Corporation (00883) rising nearly 2%, following an overnight surge of over 5% in international oil prices.
Driven by the mixed performance of U.S. stocks overnight, the strong performance of the NASDAQ Golden Dragon China Index, and the simultaneous rise in gold and oil prices, Hong Kong stocks opened slightly higher today
