Hong Kong stock opening | Hang Seng Index divides domestic banking and insurance stocks and strengthens, Huahong Semiconductor (01347) leads the rise in constituent stocks

The Zhitong Finance App learned that on September 7, the Hang Seng Index opened flat to 25,652.97 points, a slight increase of 0.01%; the Hang Seng Technology Index fell 0.26% to 4,558.07 points; and the State-owned Enterprises Index fell 0.08% to 8,548.06 points.

Domestic banking stocks and insurance stocks strengthened; China People's Insurance Group (01339) rose more than 3%, China Taiping (00966) rose nearly 3%, China Construction Bank (00939) and Agricultural Bank (01288) rose more than 1%, and China Reinsurance (01508) rose nearly 2%.

Semiconductor stocks rose, and Huahong Semiconductor (01347) opened the market with a rise of nearly 2%, leading the way for the Hang Seng Index component stocks. Technology Network stocks had mixed ups and downs. Baidu Group-SW (09888) rose nearly 2%, Bilibili-W (09626) fell more than 2%, and Xiaopeng Motor-W (09868) fell more than 1%.

Gold stocks declined, with Lingbao Gold (03330) falling more than 3%, Chifeng Gold (06693) falling more than 2%, Shandong Gold (01787) falling by more than 1%, and Laosou Gold (06181) falling nearly 1%.

According to the news, the Ministry of Finance revealed on September 6 that eight central financial companies increased their capital by a total of 360 billion yuan to supplement core Tier 1 capital, of which the Ministry of Finance invested about 300 billion yuan. ICBC, Agricultural Bank, China Insurance, China Taiping, China Life Insurance, etc. received capital injections. Domestic banks and insurance stocks were boosted by this. Overnight, US stocks closed down last Friday. The Dow fell 0.51%, the S&P 500 index fell 0.38%, and the NASDAQ fell 0.29%. Spot gold fell back to around 4,430 US dollars/ounce due to the effects of the US agricultural sector far exceeding expectations in August and rising expectations of the Federal Reserve's interest rate hike, and gold stocks declined.