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
Hong Kong Shares Edge Higher on Tech-Led Recovery
The Hang Seng Index rose 63 points, or 0.24%, to 25,978 on Friday, recovering from morning losses as bargain hunting returned in technology and semiconductor stocks, helping offset early caution driven by geopolitical concerns. Sentiment improved during the session as AI-related optimism gained traction, with DeepSeek’s latest model performance reinforcing confidence in China’s progress in artificial intelligence and supporting expectations of rising demand for domestic computing hardware. In Hong Kong, SMIC recorded strong gains of 10% to close reflecting heightened interest in chipmakers. The turnaround helped stabilize the market after a weak start, with tech and chip-related strength providing the main support despite ongoing unease over Middle East tensions and their potential impact on global risk appetite and energy prices. Among other notable movers were Lenovo Group (3.1%), Xiaomi (0.1%), and Guoxia Technology (33.8%).
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Hong Kong Stocks Slip for Third Consecutive Day
The Hang Seng Index fell 270 points, or 1.0%, to 25,645 on Friday, extending its losing streak to a third session as risk appetite remained subdued amid persistent geopolitical uncertainty and uneven global cues. Sentiment was influenced by developments in the Middle East, where Donald Trump said Israel and Lebanon would extend their ceasefire by three weeks, providing some temporary relief but doing little to ease concerns over stalled US-Iran negotiations and the broader risk of escalation. Oil prices advanced for a fifth straight session reinforcing worries about prolonged supply risks and inflation pressures. Concerns that tensions could disrupt flows through key shipping routes, including the Strait of Hormuz, further dampened sentiment. Moreover, in Hong Kong, it opened lower following overnight losses on Wall Street. Notable laggards included Tencent Holdings (-1.3%), AIA Group (-0.1%), Geely Automobile (-1.8%), Akeso (-1.9%), and Kingboard Laminates (-3.6%).
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Hong Kong Stocks Edge Lower on Cautious Sentiment
The Hang Seng Index fell 248 points, or 1%, to close at 25,915 on Thursday, reversing gains from the previous session as investors locked in profits and adopted a more cautious stance ahead of key macroeconomic data. Sentiment was shaped by a mixed global backdrop. While US equities were supported by strong corporate earnings and improved risk appetite, regional markets remained more restrained as investors weighed geopolitical uncertainty linked to the US-Iran standoff and its potential impact on energy flows through the Strait of Hormuz. Elevated oil prices continued to fuel inflation concerns, keeping risk sentiment in check across Asian markets. Locally, attention is focused on Hong Kong’s March inflation data, which could offer fresh signals on price pressures and influence expectations for monetary conditions. Among notable laggards were Tencent Holdings (-1.8%), Xiaomi Corporation (-1.9%), SMIC (-1.4%), Akeso (-12.7%), and Pop Mart (-2.9%).
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