Hong Kong stock opening | Hang Seng Index opened 1.11% higher, gold stocks, innovative drug concept strengthened, Genting Xinyao B (01952) opened nearly 15% higher

The Zhitong Finance App learned that on August 20, the Hang Seng Index rose 1.11% to 25779.08 points; the Hang Seng Technology Index rose 1.69% to 4761.17 points; and the State-owned Enterprises Index rose 1.27% to 8579.08 points. Pre-market transactions amounted to HK$3.455 billion.

Gold stocks strengthened sharply. Zijin Gold International (02259) rose more than 8%, Lingbao Gold (03330) rose more than 7%, China Gold International (02099) and Laosou Gold (06181) rose nearly 7%, Shandong Gold (01787) rose more than 6%, and Chifeng Gold (06693) rose more than 5%. Overnight, spot gold rose about 3.5% to 4,484 US dollars/ounce; COMEX gold futures rose about 4.4%, returning above 4,500 US dollars/ounce.

Innovative drug concept stocks opened higher. Genting Xinyao B (01952) opened nearly 15% higher, Jingfang Pharmaceutical-B (02595) rose more than 5%, and Fosun Pharmaceutical (02196) rose more than 4%. US vaccine/innovative drug stocks surged overnight, and Moderna rose nearly 177%.

Technology Network stocks generally rose. NetEase (09999) rose more than 3%, JD Group-SW (09618) rose nearly 3%, Meituan-W (03690) rose more than 2%, and Alibaba-W (09988) and Tencent Holdings (00700) rose nearly 2%.

Overnight, the three major US stock indices collectively closed higher. The Dow rose 0.22%, the S&P 500 index rose 0.21%, the NASDAQ rose 0.16%, and the NASDAQ China Golden Dragon Index rose 1.51%; the US Treasury expanded long-term treasury bond repurchases to push back US bond yields, driving Hong Kong stocks to open higher today.