Hong Kong stocks jump into 2026 with biggest surge since May
Investors expect Beijing’s ‘policy pivot’ to continue, with a focus on demand-side stimulus and stabilising the housing market, analyst says
The Hang Seng Index surged 2.8 per cent to 26,338.47 at the close, notching the biggest gain since May 12 and pushing the benchmark to the highest level since November 17. The Hang Seng Tech Index added 3.6 per cent. On the mainland, the markets were closed for public holidays.
Electric-vehicle maker Li Auto added 4.9 per cent to HK$68.05, and online game provider NetEase advanced 6.6 per cent to HK$228.80. Online-travel booking agency Trip.com climbed 5.2 per cent to HK$583, while e-commerce giant Alibaba Group Holding lifted 4.3 per cent to HK$149. WeChat operator Tencent Holdings gained 4 per cent to HK$623, and Chinese home-grown chipmaker Semiconductor Manufacturing International rose 5.1 per cent to HK$75.10.
The Hang Seng Index ended 2025 with a 28 per cent gain on Wednesday, securing its best yearly performance since gaining 36 per cent in 2017. The CSI 300 Index of the mainland’s yuan-denominated stocks climbed 18 per cent in 2025, the biggest gain since 2020.
Expectations have been building that the stock rally could extend into 2026 after a high-level economic policy meeting chaired by President Xi Jinping last month signalled continued fiscal support and accommodative monetary policy in 2026.