Hang Seng Opens Up 0.28% at 23,156.96; Hang Seng Tech Rises 0.43%

The tech sub-index outpacing the broad benchmark suggests the bid is concentrated in growth names rather than a uniform risk-on move, with NetEase's outsized gain doing much of the heavy lifting. That kind of single-stock leadership can flatter an index reading without reflecting wider conviction. For Hong Kong equity watchers, the question is whether the tech strength broadens beyond a handful of names or fades once early-session flows settle — a narrow open is not the same signal as a broad one.