Hong Kong stocks opened mixed on Wednesday, with the benchmark index hovering near the flatline following an overnight decline on Wall Street.

US equities slipped on Tuesday as escalating tensions in the Middle East pushed oil prices sharply higher, weighing on the three major indices. The US dollar weakened, while the 10-year Treasury yield held around 4.79%. Gold prices came under pressure, whereas crude oil registered significant gains.

In early trading, the Hang Seng Index inched up 0.04% to 25,328.13 points, the Hang Seng Tech Index added 0.1%, while the Hang Seng China Enterprises Index dipped 0.03%.

Where the action is: Internet and tech stocks showed divergent moves, with Bilibili Inc (NASDAQ: BILI) climbing over 3% and NetEase Inc (NASDAQ: NTES) slipping more than 1%. The optical communication sector opened on a strong note, led by Zhongji Innolight Co Ltd (SZSE: 300308), which surged past 5%. Chinese brokerage stocks were also active, with CITIC Securities Co Ltd (HKEX: 6030) advancing over 1%.

Memory chip-related names were broadly firmer, with the CSOP SK Hynix Daily Leverage (2x) Product surging more than 6% at the open.