Hong Kong's stock market enjoyed a strong start to 2026, with all three major indices posting significant gains on the first trading day. The Hang Seng Index closed up 2.76% at 26,338.47 points; the Hang Seng China Enterprises Index and the Hang Seng Tech Index rose 2.86% and 4% respectively, reflecting robust bullish sentiment.
Sector Highlights:
- Technology Stocks Led the Charge: Baidu Group (09888.HK) surged over 9%, while Tencent (00700.HK) and Alibaba (09988.HK) both gained more than 4%, setting the tone for the market.
- Semiconductors Showed Strength: Hua Hong Semiconductor (01347.HK) jumped over 9%, and SMIC (00981.HK) rose more than 5%. The sector was buoyed by Hua Hong's announcement of a major asset restructuring plan. Additionally, Biren Tech's (Biren Tech) stellar debut, soaring 75.8% on its first day, highlighted market enthusiasm for domestic computing chips.
- Power Equipment & New Energy Gained: Goldwind Science & Technology (02208.HK) skyrocketed nearly 21%, leading a broad sector rally. The catalyst was news that LandSpace, in which Goldwind holds a stake, had its IPO application accepted on the STAR Market.
- Tourism and Gaming Sectors Active: Tourism stocks benefited from strong holiday travel data, while gaming shares also saw widespread gains.
Outlook: Industrial Securities noted that the Hong Kong stock market is expected to maintain its bull run in 2026, with the rally potentially progressing in a "torch climbing" pattern of volatile ascent. Fundamentally, the net profit of Hang Seng Stock Connect constituents is forecast to grow 7.3% year-on-year, led by sectors like information technology and non-essential consumption. Meanwhile, the dual effect of "asset appreciation + exchange gains" from a potential RMB appreciation could attract sustained global capital inflows, further driving valuation repair. Investment themes may focus on "growth momentum aggregation" and "value reconstruction dividends."
This article does not constitute any investment advice. The stock market involves risks, and investment should be made with caution!