{Economic Information Daily, 7th} Overnight U.S. 10-year Treasury yields dipped slightly but remained high. Wall Street's new wave of AI investment frenzy showed no signs of cooling, with tech and AI stocks broadly rising overnight. Both the Nasdaq and S&P 500 hit record highs. On the last day of the National Day holiday, ahead of the resumption of northbound trading, Hong Kong stocks retreated first. The Hang Seng Index opened at 24,172, down 108 points or 0.4%, with board turnover at HK$3.161 billion. The Hang Seng China Enterprises Index stood at 8,095, down 33 points or 0.4%. The Hang Seng Tech Index was at 4,209, down 13 points or 0.3%.

Biotech stocks, which rose yesterday, fell today. WuXi Biologics (02269) dropped 3.11% to HK$56.1, BeiGene (06160) declined 2.45% to HK$215.2, Innovent Biologics (01801) fell 2.37% to HK$97, and WuXi AppTec (02359) slipped 1.1% to HK$216.2.

Internet tech stocks also weakened. Alibaba (09988) declined 1.39% to HK$106.7, Meituan (03690) fell 0.99% to HK$70.1, Baidu (09888) dropped 0.93% to HK$85.35, Tencent (00700) slipped 0.61% to HK$425.6, and JD.com (09618) softened 0.19% to HK$103.4.

HSBC (00005) fell 0.39% to HK$152.2, Standard Chartered (02888) declined 0.42% to HK$235.4, and AIA (01299) dropped 1.02% to HK$68.1.

Weichai Power (02338) rose 2.99% to HK$30.36, marking six consecutive days of gains with a cumulative increase of 9.44%; New Oriental (09901) gained 2.08% to HK$45.1. (ey)