The Hang Seng Index surged 2.2 per cent to 26,198.63 as of 11.05am local time on Friday, the biggest gain since August 13. The Hang Seng Tech Index added 3.6 per cent. On the mainland, the markets were closed for public holidays.
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.
Leading the gains on Friday, search-engine giant Baidu jumped 8.7 per cent to HK$142.90, after it said its AI chip unit Kunlunxin filed a listing application with the Hong Kong stock exchange on Thursday. Electric-vehicle maker Li Auto added 6.1 per cent to HK$68.80, and online game provider NetEase advanced 6.2 per cent to HK$227.80. Online-travel booking agency Trip.com climbed 4.2 per cent to HK$577.50, while blind-box toymaker Pop Mart rose 3 per cent to HK$193.40.
Limiting gains, electric utility firm Power Assets dropped 0.9 per cent to HK$54.65, infrastructure company CK Infrastructure Holdings retreated 1.5 per cent to HK$56.75.
“Beijing will continue the policy pivot that started last year to increase demand-side stimulus and stabilise the housing market,” said Chi Lo, global market strategist at BNP Paribas Asset Management, in a note on Friday. “If this materialises and is combined with structural reform measures, there is a fair chance that Chinese stock prices could continue to advance this year.”
