HS#HSI RP2903J

HANG SENG Index Futures Night Session Down 0.47%, Closes at 25885

Hong Kong's Taxation Surges 22%, Stamp Duty and Profits Tax Make Major Contributions

May and June Futures Last Trading Price Rises

HSI Futures Open 1.46% Higher at 25889 Points

Update on Hang Seng Bull and Bear Street Holdings Distribution

Hang Seng Index Futures Open Down 1.05%, Quoted at 25,561.17

Hang Seng Index Futures Down 211 Points, Unwind Contracts Decrease

HSI Night Index (May) Down 22 Points

Hang Seng Index Futures Open Up 0.36% at 25,800 Points

Changes in Bull and Bear Street Positions of Hang Seng Index

Hong Kong Index Futures Night Session Closes Down 0.27% at 25,632.73 Points

Hang Seng Index Night Futures Up 11 Points

Hang Seng Index Futures Open 0.02% Higher at 25,959.90 Points

CITIC Securities Displays Bull and Bear Warrant Street Inventory Distribution Data for Hang Seng Index

HSI April and May Futures Open Lower

HSI Night Index Closed Down 271 Points

Changes in Bull and Bear Warrant Street Positions of Hang Seng Index

Hang Seng Index Futures Night Session Rises 0.39% to 26,494

April Night Futures Index Flat, May Night Futures Index Slightly Down

HSI futures open higher in the daytime session

SOMERLEY CAP

TIANLI HOLDINGS

COSMOS MACH

FUTONG TECH

SINO ICT

SAMPLE TECH

QPL INT'L

STARCOIN GROUP

CITY COOLXUAN

PAN ASIA DATA H

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Hong Kong Monetary Authority Chief Executive Yu Weiwen announced that after the launch of the first batch of stablecoins, the authority will consider issuing new licenses. He noted that the number of licenses will be strictly controlled based on market capacity and emerging risks to manage expectations. Continuous monitoring of stablecoin implementation will also be conducted.

CoinLive

Hang Seng Index

Hong Kong Monetary Authority to Consider New Licenses After Stablecoin Launch

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The Hong Kong stock market saw gains on Monday, with the Hang Seng Index rising 319.35 points or 1.24% to close at 26,095.88. This follows a two-day decline of nearly 300 points. Despite the positive performance, the outlook for Asian markets remains negative due to escalating tensions in the Middle East. Major U.S. indices closed lower, influenced by rising crude oil prices amid geopolitical concerns. Notable stock movements included Alibaba up 4.52% and Xiaomi soaring 6.75%.

nasdaq

CSOP HSI ETF

KraneShares 2x Long BABA Daily ETF

ISHARESHSI

BABA 2x Long Daily ETF - GraniteShares

XIAOMI-W

Xiaomi Corporation

BABA-W

Hang Seng May Hand Back Monday's Gains

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Uzbek Prime Minister Abdulla Aripov will join a 200-member delegation visiting Hong Kong to explore collaboration opportunities. The visit follows a charter flight arrival of the delegation, marking a significant milestone in Hong Kong-Uzbekistan relations. High-level discussions will focus on sectors like re-exports, digital economy, and sustainable development. The delegation aims to enhance Uzbekistan's market presence and attract foreign investment, with plans for seminars to deepen collaboration. Uzbekistan is set to join the World Trade Organization by 2026, positioning itself as a key manufacturing and logistics hub in Central Asia.

SCMP

TRACKER FUND

ISHARESHSI-R

ISHARESHSI-U

TENCENT

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

Uzbek PM Abdulla Aripov to join ‘milestone’ 200-member delegation in Hong Kong

In Q1 2026, a survey by the HKMA found that 73% of SMEs reported stable or easier credit approval, with a 91% success rate in new loan applications. This indicates a positive trend in credit access for SMEs in the region.

Unusual Whales

Survey: HKMA finds 73% of SMEs report stable or easier credit approval in Q1 2026, with 91% success in new loan applications.

Hong Kong experienced a 4.8% increase in mainland Chinese visitors during the first three days of the Labour Day holiday, totaling 714,765 visits. However, spending was uneven, with casual dining seeing strong growth while upscale restaurants struggled. Hotel occupancy rates could reach 90%, but rainy weather and flexible travel patterns may impact demand. Retailers reported satisfactory sales, particularly in luxury goods, driven by an increase in inbound visitors and curated events. The trend of multi-destination trips is also influencing visitor behavior, as travelers adapt plans based on weather conditions.

- During the Labor Day “Golden Week” holiday, Hong Kong recorded a 4.8% increase in Mainland visitors, totaling 714,765 from May 1 to May 3.  
- However, uneven consumer spending and evolving travel preferences may strain businesses, despite hotel occupancy potentially reaching 90%.  
- Retailers have reported strong sales, particularly in luxury goods and experiential products, indicating a shift towards unique offerings for tourists.

HENDERSON LAND

‘Golden week’: Hong Kong draws more mainland Chinese visitors but spending uneven

Hong Kong's tax revenue surged 22% to HK$458.3 billion (US$58.5 billion) for the year ending March 31, driven by a strong stock market and increased property transactions. Key contributors included a 61% rise in stamp duty to HK$102.6 billion, a 20% increase in profits tax to HK$212.6 billion, and a 10% rise in salaries tax to HK$97.7 billion. The growth was supported by a robust pipeline of initial public offerings, with 37 companies raising US$13.26 billion in Q1, marking a 453% year-on-year increase.

- Hong Kong's overall tax revenue increased by 22% last year, reaching HKD 458.3 billion ($58.5 billion), driven by an active stock market and rising property transactions.  
- The growth was primarily fueled by a 61% surge in stamp duty to HKD 102.6 billion, while profits tax rose by 20% to HKD 212.6 billion and payroll tax by 10% to HKD 97.7 billion.  
- Strong IPO activity, with 37 companies raising approximately $13.26 billion on the stock exchange in the first three months, contributed significantly to tax revenue growth.

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Hong Kong Exchanges and Clearing (HKEX)

Hong Kong tax revenue jumps 22% to HK$458 billion

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The HSI closed up 319 points, or 1.2%, at 26,095, following a strong performance in Asia-Pacific markets. Major blue chips like HSBC, AIA, and Tencent saw gains, with Alibaba and Xiaomi rallying significantly. AI-related stocks surged, reflecting increased usage of China's large AI models. Total market turnover reached HKD176.979 billion, while renewable energy stocks also advanced. Notably, NIO shares fell despite reporting a 23% YoY increase in deliveries. Overall, the market showed positive momentum driven by technology and AI sectors.

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Alibaba

HSI Closes Up 319 pts; BABA-W  and XIAOMI-W Rally as AI Stocks Surge

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Asia stocks rose on Monday, with South Korea's KOSPI hitting a record high of 6,828.33 points, boosted by strong gains in memory chip makers Samsung and SK Hynix. Hong Kong's Hang Seng index increased by 1.7%, driven by rebounds in tech stocks like Baidu and Xiaomi. Broader Asian markets were mostly positive, influenced by Wall Street's previous gains, while Australia's ASX 200 fell 0.2% amid expectations of further interest rate hikes by the Reserve Bank of Australia due to inflation concerns.

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Guotai CES Semiconductor Chip Industry ETF

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First Trust Nasdaq Food & Semicon

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

Asia stocks rise; S.Korea at record high, Hong Kong up on tech gains

Financial Secretary Paul Chan forecasts Hong Kong's economy will grow over 4% in 1Q26, the strongest in nearly five years, driven by improved private consumption, exports, and fixed investment. Exports rose 32% in value, with significant increases to Mainland China and ASEAN. Visitor arrivals surged 17% YoY, exceeding 14.3 million. The government is monitoring the impact of rising oil prices and has announced HKD2 billion in support measures for small and medium-sized enterprises. Total tourism spending is expected to exceed HKD240 billion, bolstering retail and catering sectors.

Paul Chan Forecasts Hong Kong 1Q26 Econ Growth Exceeding 4%, Strongest in Nearly Five Years

Hong Kong is poised for its strongest quarterly growth in nearly five years, driven by a 17% increase in visitor numbers and a 5.2% rise in retail and catering activity, according to Financial Secretary Paul Chan. The first-quarter GDP is expected to surpass the revised 4% growth from the previous quarter. Inbound tourism is strong, with over 14.3 million visitors in Q1, leading to a projected tourism-related spending of over HK$240 billion. The jobless rate fell to 3.7%, and there is positive market sentiment with robust stock trading and a rising property sector.

- Hong Kong is set to achieve its strongest quarterly growth in nearly five years, with a 17% increase in visitor numbers and a 5.2% rise in retail and dining activity, according to the Financial Secretary.  
- During the first two days of China's Labor Day "Golden Week," 602,000 tourists visited Hong Kong, indicating a robust rebound in inbound tourism.  
- The first quarter GDP is expected to exceed the revised 4% growth from the previous quarter, supported by strong consumer spending and substantial exports.

Finance chief says Hong Kong on track for strongest quarterly growth in 5 years

Hong Kong saw a 13% increase in mainland Chinese visitors on the first day of the Labour Day holiday, with over 300,000 inbound trips. Meanwhile, outbound journeys by Hongkongers surged by 45% to over 430,000. A total of 1.32 million cross-border trips were recorded, with mainland visitors accounting for 251,212 arrivals. The city experienced a net outflow of 31,652 people, with busy checkpoints like Lo Wu and Lok Ma Chau Spur Line handling the most traffic. The government anticipates around 980,000 mainland visitors during the holiday period, a 7% increase from last year.

- During the "Golden Week" holiday, Hong Kong welcomed a 13% increase in mainland tourists compared to last year, with over 300,000 arrivals on the first day.  
- The weekend also saw a significant rise in Hong Kong residents leaving for the mainland, up 45% from last year, totaling over 430,000 departures.  
- The most popular border checkpoints included Lok Ma Chau and Lo Wu, and social media showed both excitement and complaints from travelers about long wait times at the borders.

Hong Kong records 13% rise in mainland Chinese visitors on day 1 of ‘golden week’

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The Hang Seng Index fell by 0.78% this week, closing at 25776.53, marking its largest weekly decline since March 27, 2026. It has decreased for two consecutive weeks, totaling a drop of 1.47% over the last fortnight. Despite this, the index is up 0.57% year-to-date, with an increase of 145.99 points.

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Factset Research

Hang Seng Index Falls 0.78% This Week to 25776.53 — Data Talk

$Hang Seng Index(00HSI.HK)has evolved into a hybrid market that reflects China’s economic cycle more than Hong Kong’s domestic fundamentals. Its performance is increasingly driven by mainland policy follow-through, earnings durability in platform and financial stocks, and cross-border capital flows via Stock Connect. Valuation alone is no longer a catalyst; sustained upside depends on whether policy support translates into real profit recovery and renewed confidence from long-term global investors.

$XTALPI(02228.HK) The first to rise in the Hong Kong stock watch list! Push it up!

XTALPI

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Hang Seng TECH Index

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HSTECH ETF

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Hang Seng TECH ETF I

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POP MART HK SDR 20to1

BABA-WR

Alibaba HK SDR 5to1

The exchange rate of HKD against USD is rising rapidly. Will there still be big opportunities in Hong Kong stocks? $Hang Seng Index(00HSI.HK) $Hang Seng TECH Index(STECH.HK)

While the US stock market hovers under the shadow of tariffs, the Hong Kong stock market is experiencing a liquidity-driven structural frenzy. But is this 'Hong Kong stocks feast' the beginning of a trend revaluation, or a short-lived bubble induced by capital?From a macro perspective, the weak dollar cycle and the abundance of Hong Kong dollar liquidity are the core drivers of the Hong Kong stock market. In May, US tariff revenue surged to a peak of $22 billion, yet the CPI remained stable, coupled with the potential impact of immigration policies on the job market, the probability of a Fed rate cut in June-July is extremely low. The US stock market remains in a tug-of-war between 'chicken ribs market and downside risk.' In contrast, the Hong Kong dollar exchange rate has quickly slid from the strong-side guarantee to the weak-side edge, HIBOR rates are nearly zero, and the abundant liquidity is flooding into new consumption, innovative drugs, and A/H premium targets, driving both blue-chip dividend stocks and growth assets higher.However, the sustainability of the structural revaluation of Hong Kong stocks is highly dependent on the liquidity environment. The current extremely low level of HIBOR has deviated from the US benchmark interest rate. If the Fed's policy shifts or there are changes in the supply and demand of funds, a liquidity retreat could trigger a valuation correction. More critically, the structural premium of the same asset in Hong Kong stocks compared to A-shares lacks fundamental support. In a market dominated by southbound funds, caution is needed against the risk of valuation overshoot under 'capital frenzy.'In the short term, as long as the cost of borrowing in Hong Kong dollars remains low, there is still room for liquidity-driven revaluation to continue. However, in the long term, whether Hong Kong stocks can escape the 'capital market' dilemma depends on whether corporate earnings can take over liquidity as the anchor of valuation. Investors need to closely monitor changes in HIBOR rates and maintain sensitivity to risks amid the liquidity feast. $Hang Seng Index(00HSI.HK)

$Hang Seng Index(00HSI.HK)When the Hong Kong dollar triggers the strong-side convertibility undertaking, the Hong Kong government will be forced to issue Hong Kong dollars to buy US dollars (unless Hong Kong abandons the linked exchange rate system due to another crisis caused by excessive base money).Short-term may benefit the Hong Kong stock market.

On a weekly basis, the southbound capital flow in Hong Kong stocks was a net outflow in the past week. This is unusual, as it's the first time this has happened in at least over a year. $HSTECH ETF(03032.HK) $Hang Seng Index(00HSI.HK) $XIAOMI-W(01810.HK)

XIAOMI-WR

Xiaomi HK SDR 2to1

$XTALPI(02228.HK)$Hang Seng Index(00HSI.HK)This is a key macro indicator for Hong Kong stocks.

$Hang Seng Index(00HSI.HK) $XTALPI(02228.HK) Who should be blamed for these poor souls in Hong Kong stocks today? Sigh... damn it

During the 2018 trade war, Gao Shanwen gave a relatively well-known internal speech:Our generation has already made enough money, so young people should just wash up and go to sleep.As for the 2025 tariff war, what I want to say is: young people might not be able to sleep.$Hang Seng Index(00HSI.HK)$Hang Seng TECH Index(STECH.HK)$Invesco QQQ Trust(QQQ.US)$SPDR S&amp;P 500(SPY.US)

Invesco QQQ Trust

SPDR S&P 500

Another day protected by southbound capital! At 13:30 in the afternoon, the southbound capital suddenly surged, and the intraday chart skyrocketed after a 10-minute delay (did you day trade during these 10 minutes? 😂).Unlike yesterday, the southbound capital first rose and then fell in the morning, showing overall weakness. By 13:30, the net purchase was only 1.5 billion. After the surge, the cumulative net purchase for the day reached 5.15 billion. Compared with yesterday, I'm more convinced that there is a will behind the southbound capital.$Hang Seng Index(00HSI.HK) $BABA-W(09988.HK) $TENCENT(00700.HK)

HS#HSI RP2903J(54022.HK)

Hong Kong Monetary Authority to Consider New Licenses After Stablecoin Launch

Hang Seng May Hand Back Monday's Gains

Uzbek PM Abdulla Aripov to join ‘milestone’ 200-member delegation in Hong Kong

Survey: HKMA finds 73% of SMEs report stable or easier credit approval in Q1 2026, with 91% success in new loan applications.

‘Golden week’: Hong Kong draws more mainland Chinese visitors but spending uneven