Hong Kong stocks rise at open, led by tech shares

Hong Kong stocks rose on Friday, led by gains in technology shares, while several newly listed stocks jumped sharply on their trading debut.

The Hang Seng Index opened up 123 points, or 0.47 percent, at 26,272, while the Hang Seng Tech Index rose 21 points, or 0.38 percent, to 5,699.

Major technology stocks were mixed. Alibaba (9988) climbed 3.78 percent and JD.com (9618) gained 3.31 percent, while Tencent (0700) was flat. Meituan (3690) slipped 0.99 percent and Baidu (9888) fell 2.49 percent.

Three new listings made their market debut on Friday. Suzhou Ribo Life Science (6938) opened at HK$75, up 29.3 percent from its IPO price of HK$57.97. AI firm MiniMax (0100) opened at HK$235.4, a 42.6 percent premium to its offer price of HK$165, while Yunnan Jinxun Resources (3636) opened at HK$38, up 26.6 percent from its IPO price of HK$30.