Hang Seng Index Falls 1% at Opening on May 8, Tech Index Down 0.81%

On May 8, the Hang Seng Index fell 1% at opening, while the Hang Seng Tech Index declined 0.81%. Software stocks mostly opened higher, with Baidu Group-SW up 2.91%, Meituan up 3.18%, and Kingsoft Software up 1.06%.

Baidu’s subsidiary Kunlun Chip initiated guidance for a Shanghai Stock Exchange Science and Technology Innovation Board (STAR Market) initial public offering.

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