Hong Kong Stocks Open Lower as Hang Seng Index Drops 0.41%, Tech Index Falls 0.96%; Internet Stocks Weak, Memory Chip Concept Stocks Open Down, CSOP SK hynix Product Plunges Over 14%

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Yesterday

U.S. stocks closed mixed on Monday as investors awaited a new round of corporate earnings, with rising oil prices dragging technology shares lower and the three major indexes finishing with varied gains and losses. The U.S. dollar remained strong, the 10-year Treasury yield held at 5.23%, gold prices came under repeated pressure, and oil prices first fell before recovering.

Today, Hong Kong's three major indexes all opened lower. The Hang Seng Index fell 0.41% to 24,172.09 points at the open, the Hang Seng Tech Index dropped 0.96%, and the China Enterprises Index declined 0.39%.

On the board, internet stocks were mostly lower. Lenovo Group Ltd (ASX: 0992) and JD.com Inc (ASX: 9618) fell more than 2%, while Xiaomi Corp (ASX: 1810) rose nearly 1%.

Memory chip concept stocks opened lower, with the CSOP SK hynix Daily Leveraged (2x) Product plunging over 14%.

Innovative drug concept stocks mostly declined, with WuXi Biologics (Cayman) Inc (HKEX: 2269) dropping more than 3%.

Automotive stocks weakened, with Seres Group Co Ltd (SHA: 601127) falling over 2%.

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The U.S. dollar remained strong, the 10-year Treasury yield held at 5.23%, gold prices came under repeated pressure, and oil prices first fell before recovering.<br><br>Today, Hong Kong's three major indexes all opened lower. 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The U.S. dollar remained strong, the 10-year Treasury yield held at 5.23%, gold prices came under repeated pressure, and oil prices first fell before recovering.<br><br>Today, Hong Kong's three major indexes all opened lower. 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