Hong Kong stocks rise to wrap up best lunar-year performance in eight years
As market closes for Lunar New Year, benchmark hits 32 per cent gain since the Year of the Snake began in January 2025
Hong Kong stocks rose on Monday as investors headed into the Lunar New Year holiday on an upbeat note, betting that the Year of the Horse will extend a rally that delivered the biggest lunar-year gain in eight years amid strong southbound inflows.
The Hang Seng Index rose 0.5 per cent to 26,705.94 at the close of trading at noon, ending a two-day decline. The Hang Seng Tech Index added 0.1 per cent.
The Hang Seng Index is up 32 per cent since the Year of the Snake began on January 29, 2025, the best lunar-year performance since 2017, when it rose 34 per cent. In the previous Year of the Snake in 2013, the index fell 6.1 per cent.
On Monday, gold miner Zijin Mining jumped 4.7 per cent to HK$43.52, and blind-box toymaker Pop Mart International climbed 1.5 per cent to HK$251.20. Online-game provider NetEase added 0.9 per cent to HK$187.30, while power-tools manufacturer Techtronic Industries advanced 3.5 per cent to HK$122.80. Search-engine operator Baidu gained 1.3 per cent to HK$137.60, and WeChat operator Tencent Holdings lifted 0.2 per cent to HK$533.
Hong Kong’s stock exchange closed after the morning session and will reopen on Friday, while the mainland’s bourses are closed all week. Trading volume was light ahead of the holidays, as traders locked in profits.