Hang Seng Index jumps nearly 400 points at open

Hong Kong shares climbed at the open on Thursday, as the Democrats' victory in the US midterm elections boosted investors' sentiment.

The benchmark Hang Seng Index jumped 397 points, or 1.66 percent, to 24,316.

The tech gauge rose 1.43 percent to 3,992.

Tech heavyweights outperformed the market, with Alibaba (9988) and Tencent (0700) up 2.6 percent and 3 percent, respectively.

Xiaomi (1810) and Meituan (3690) also advanced 4.3 percent and 3.1 percent, while JD.com (9618) and Baidu (9888) grew 1.4 percent and 1.9 percent.

With gold prices rising, Laopu Gold (6191) and Zijin Mining (2899) opened 3.6 percent and 3.5 percent higher.

Conversely, PetroChina (0857) and CNOOC (0883) dropped 5.55 percent and 2.5 percent, tracking retreating oil prices, as US President Donald Trump said the country would not launch an attack on Iran immediately.

Chipmakers weighed down the market. Hua Hong Grace Semiconductor (1347) slipped 5.5 percent, marking the largest loss among blue chips at the open, while SMIC (0981) declined 3 percent.

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