Stock Market Opening: Hang Seng Index Down 0.77%, ChiNext Off 0.58%!

The US stock market had a mixed development, with the Federal Reserve maintaining interest rates as expected and not providing clear guidance on future rate cuts. This led to market fluctuations, with the three major indices closing up or down. The US dollar rose, while the 10-year Treasury yield returned to 4.37%. Gold prices were under pressure, while oil prices continued to rise.

Today, Hong Kong stocks saw a collective decline in the three major indices. The Hang Seng Index fell 0.77%, closing at 24982.87 points, while the ChiNext Index fell 0.58% and the China Enterprises Index fell 0.68%. On the market front, technology stocks collectively declined, with Meituan falling over 3%. Innovative pharmaceutical concepts rose sharply, with Lepu Biopharma gaining over 5%. Mid-cap stocks from Chinese banks collectively fell, including Guotai Junan Securities (601788), which fell over 2%. Gold stock prices continued to fall, with China White Group falling over 3%. Stable currency concept stocks also declined, with Zhongyi Tiandi falling over 6%.