FINANCE

Hong Kong Stocks Rally With Eyes on 30,000 Level in 2026

Published: Dec. 12, 2025 7:18 p.m. GMT+8

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Hong Kong stocks rallied Friday, extending a stellar 2025 run, after Beijing concluded its annual economic policy meeting with fresh commitments to stabilize growth.

The Hang Seng Index climbed 1.75% to nearly 26,000, buoyed by optimism surrounding the Central Economic Work Conference. The benchmark has surged more than 30% year-to-date, outperforming many global peers.

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The Hang Seng Index rose 1.75% to nearly 26,000, up over 30% year-to-date, following Beijing's new economic growth commitments.
Major banks forecast the index could reach 28,000–30,000 in 2026, citing 3%–4% earnings growth and likely increased foreign investment.
Top investment themes include artificial intelligence and large tech stocks, though some institutions remain cautious about Chinese equities.

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Who’s Who

China International Capital Corp. Ltd.: China International Capital Corp. Ltd. (CICC) has set a baseline target of 28,000 to 29,000 for the Hang Seng Index next year. This projection is based on an anticipated 3% to 4% average earnings growth among the constituent companies of the index.

Everbright Securities International: Everbright Securities International is optimistic about the future of the Hang Seng Index, predicting it could reach 30,000 next year. Their strategist, Kenny Ng, believes that while Chinese mainland investors have been crucial this year, new capital in 2026 will increasingly come from foreign investors.

Goldman Sachs: Goldman Sachs' CEO, David Solomon, indicated that international investors are progressively normalizing their long-term exposure to China, suggesting a return to more typical investment patterns in the region.

Fidelity International: Fidelity International, through its portfolio manager George Efstathopoulos, views Chinese equities as essential for portfolio diversification. Efstathopoulos also noted the market's greater-than-expected resilience.

BlackRock: BlackRock holds a neutral stance on Chinese stocks for 2026. Egon Vavrek, head of emerging markets at BlackRock, indicated that the firm is awaiting evidence of stronger earnings momentum before adjusting its position.

KGI: According to the article, KGI is an institution whose chief investment officer, Cusson Leung, favors large Hong Kong-listed tech stocks. He believes these stocks have reasonable valuations, and artificial intelligence is a key investment theme for the coming year.

AI generated, for reference only