Hong Kong's Hang Seng Index Surges Over 400 Points in Morning Trading, Tech Stocks Lead

Hong Kong's stock market opened sharply higher on July 2, with the Hang Seng Index gaining 308 points or 1.35% to 23,189 points by 10:08 a.m., after morning gains temporarily exceeded 454 points. The Index initially climbed 190 points at open but dipped to a low of 22,995 points before buying pressure triggered a recovery, with tech stocks driving the advance.

The Tech Index rose 1.88% to 4,556 points, led by major tech names: Alibaba gained 4.1%, Tencent rose 3.2%, Baidu climbed 3.8%, Xiaomi increased 4.7%, Kuaishou surged 5.3%, and JD.com jumped 5.7%. Auto stocks also performed well following earnings data, with BYD climbing 7.4%, Li Auto up 4.2%, XPeng rising 3.7%, and Geely gaining 2.7%. In contrast, chip stocks declined, with SMIC dropping 7% and Huahong Semiconductor falling 8.4%.