Hong Kong Stocks Open Lower on Inflation Concerns, Hang Seng Breaks Below 250-Day Average

According to market data, Hong Kong's Hang Seng Index opened 248 points lower (0.96%) today at 25,667 points, breaking below the 250-day moving average at 25,730. The Mainland Enterprises Index fell 48 points (0.56%) to 8,555, while the Tech Index declined 48 points (0.99%) to 4,884.

Tech stocks broadly weakened, with Alibaba down 1.2%, Tencent down 0.2%, Meituan flat, Xiaomi unchanged, and Baidu dropping 2.3%. AIA fell 6.3% after reports that China may impose a 20% tax on offshore insurance policy returns. In contrast, Chow Tai Fook Jewellery surged 6.2% and Zijin Mining rose 5%, leading gains among blue-chip stocks.