Hong Kong stocks opened higher: Hang Seng Index +0.19%, Hang Seng Tech +0.42%. AI sector led gains — Lenovo Group (00992.HK) +4.4%, Kingboard Laminates (01888.HK) +4.0%. MOMENTA-W (06880.HK) rose 1.83% on its first trading day.

UBS recommends buying the SK Hynix ADRs planned for a US listing and shorting the company’s Korean-listed shares, arguing the new ADR could trade at a premium. UBS says ADRs are more efficient and cheaper for hedge funds and some global portfolio managers who do not hold the Korean stock may instead buy the ADR. The bank views a day-one long-ADR/short-local-stock trade as an obvious, scalable strategy with limited risk and a low probability of an ADR discount.

Local officials in Pakistan's southwestern Balochistan province said on July 7 a police facility was attacked by terrorists, killing nine police officers; security forces are conducting clearance operations in the area.