Hong Kong Stocks Advance at Open

Hong Kong stocks opened higher on Friday despite continued concerns over artificial intelligence spending and rising oil prices.

The Hang Seng Index rose 0.4%, or 93.30 points, to open at 23,027.98, while the Hang Seng China Enterprises Index gained 0.7%, or 55.37 points, to 7,744.56.

Meta Platforms shares dropped overnight after its latest results revived concerns over rising AI investment costs.

Oil prices climbed, with Brent crude up 4% to $113.17 a barrel after Houthi attacks in Saudi Arabia heightened concerns about further disruptions to Middle Eastern energy supplies.