Hong Kong stocks opened lower and remained weak into the midday session after a
U.S. holiday left overnight markets thin. The Hang Seng Index opened down 161
points at 25,252, slid as much as 187 points to 25,225 around the 100-day moving
average and was down 0.27% at the morning close; the Hang Seng Tech Index fell
1.1%. Market turnover narrowed to HKD 104.98 bln. Base and precious metals and
oil & gas names led a rebound; mainland property and property-management stocks
recovered. Gas, cement, coal and AI/healthcare sectors pushed higher.
Application software and computer hardware plunged; consumer electronics,
lithium battery and auto sectors extended prior declines; PCB and liquid-cooling
plays retraced. Luoyang Molybdenum (03993.HK) rose over 6%; Longfor Group
(00960.HK) and China Biopharmaceutical (01177.HK) gained over 4%; Sinopec
(00386.HK), Aluminum Corp of China (02600.HK), Zijin Mining (02899.HK) and ENN
Energy (02688.HK) rose more than 3.5%. Zhipu (02513.HK) dropped over 10%,
MiniMax (00100.HK) fell more than 6%, and Lenovo Group (00992.HK) was down 5.5%.
