US stocks closed lower overnight as rising Treasury yields dampened market sentiment across the three major indices. The US dollar strengthened while the 10-year Treasury yield climbed to 4.97%, pressuring gold prices, although oil pushed toward recent highs.

Hong Kong equities opened the session broadly weaker, with the Hang Seng Index slipping 0.95% to 24,718.15 points at the bell. The Hang Seng Tech Index fell 1.36%, while the Hang Seng China Enterprises Index dropped 0.94%.

Across the board, internet and tech counters posted broad declines, with Kuaishou and Lenovo both shedding over 2%. Memory-related plays opened lower, sending the CSOP two-times leveraged Samsung Electronics product down more than 6%. Gold miners also retreated, with China Gold International losing over 5%. Automakers continued their soft run, as XPeng fell more than 2%.