Hong Kong stocks opened higher on Monday, with the Hang Seng Index rising 0.9% to 24,434 points, as the market focused on the US earnings season. The China Enterprises Index rose 1% to 8,229 points, and the Tech Index gained 1.03% to 4,241 points. Meanwhile, mainland Chinese stocks opened lower, with the Shanghai Composite Index down 0.18% to 3,806 points, the Shenzhen Component Index down 0.43% to 12,586 points, and the ChiNext Index down 0.65% to 3,023 points. Brent crude futures fell 1.1% to $103.50 per barrel, and US crude futures dropped 1.2% to $90.73 per barrel. South Korea's Kospi index opened down 0.72% to 6,578 points. Trading was light due to market holidays in Japan and partial closures in the US ahead of earnings season. LSEG IBES data indicates that S&P 500 third-quarter earnings are expected to grow over 30%, primarily driven by the tech sector. AMP economist My Bui noted that all S&P 500 gains since mid-September have come from tech stocks, with investors demanding higher yields to fund large-scale AI borrowing. The US investment-grade credit default swap index has risen to its highest level since the start of the Iran War, reflecting investor concerns about whether AI revenues can keep pace with rising borrowing costs.