Broad Sector Gains Lift Hang Seng to 6-Week High as 2026 Opens

2026-01-02 08:17 By Farida Husna 1 min. read

The Hang Seng surged 708 points, or 2.8%, to finish at a six-week high of 26,384 on Friday, the first trading day of a new year, rebounding from previous weakness amid widespread sector strength.

Hong Kong’s tech index jumped 3.6% after DeepSeek launched a paper on cheaper AI development, reigniting optimism over Chinese tech sector.

Consumer, tech, and property stocks also rallied after President Xi Jinping signaled more proactive macro policies in 2026 to sustain momentum following around 5% growth last year.

Baidu soared 8.8% as its unit Kunlunxin announced plans for a Hong Kong listing.

Meanwhile, Hua Hong Semiconductor spiked 12.8% before easing after unveiling a CNY 7.6 billion private placement to fund projects and repay debt.

Meanwhile, Shanghai Biren Technology more than doubled on its Hong Kong debut, marking the financial hub’s first listing of 2026 with a strong start.

For the week, Hong Kong markets surged 2.0%, after closing 2025 with their best annual gain since 2017.



News Stream
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The Hang Seng Index climbed 1.6%, or 355 points, to close at 23,027 on Monday, rebounding after back-to-back declines in the previous two sessions as bargain hunting emerged in beaten-down technology shares. Gains were led by health technology and retail trade stocks, while sentiment was further supported by firmer global risk appetite after reports that the US and Iran had stepped back from escalating hostilities, boosting US equity futures and encouraging buying across Asian markets. Investor confidence also drew support from stronger-than-expected profits at China's industrial firms in the first five months of the year, confidence in the country's manufacturing sector. However, investors took caution ahead of this week's release of China's official PMI data. Among the top gainers were Tencent (+2.0%), Semiconductor Manufacturing International Corporation (+6.0%), Meituan (+5.3%), Xiaomi (+2.1%), and AIA (+2.0%).
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The Hang Seng Index fell 1.8%, or 405 points, to close at 22,672 on Friday, extending its losses as a broad selloff in artificial intelligence and semiconductor-related stocks weighed on sentiment across regional markets. The cautious mood followed renewed weakness in global technology shares after overnight declines on Wall Street. Investors remained cautious despite the Hong Kong debut of Apple supplier Lingyi iTech, whose HK$8.3 billion IPO underscored continued interest in AI-related listings but failed to improve broader market sentiment. Technology stocks led the decline, while financial and producer manufacturing shares also came under pressure. Among the notable laggards were Tencent (-2.0%), AIA (-1.8%), Semiconductor Manufacturing International Corporation (-6.8%), Meituan (-3.0%), and Kingboard Laminates (-5.2%).
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