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Hong Kong's stock market rebounded as tensions in the Middle East eased, reflecting a global market recovery. This positive trend marks the start of the second quarter, with the pharmaceutical and biotechnology sectors attracting significant investment. However, uncertainties still linger despite the optimistic outlook.

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Hang Seng Index

Hong Kong Stocks Rebound as Middle East Tensions Ease

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Hong Kong real estate stocks have shown better-than-expected performance; however, they are facing macroeconomic uncertainties due to the ongoing Middle East conflict. JP Morgan has raised concerns about possible interest rate hikes and a mild economic recession, predicting that interest rates will remain stable until the first quarter of 2027.

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Hong Kong Real Estate Stocks Face Uncertainty Amid Middle East Conflict

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Hang Seng Index main contract overnight futures closed up 0.01% at 25301 points. Hang Seng TECH Index main contract overnight futures closed down 0.15% at 4743 points

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E Fund Hang Seng ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

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HSTECH ETF

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Hang Seng TECH Index

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Huaan Hang Seng Technology ETF(QDII)

ChinaAMC Shanghai-Hong Kong Tong Hang Seng ETF

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Tianhong Hang Seng TECH ETF(QDII)

China Southern Hang Seng ETF

Penghua Hang Seng ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

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Hang Seng TECH ETF I

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ChinaAMC Hang Seng Technology ETF(QDII)

Hong Kong's retail sales surged nearly 12% in the first two months of 2026, reaching HK$72.3 billion, driven by the Chinese New Year and increased tourism. February saw a 19.3% growth, while January recorded 5.5%. The rise in sales was attributed to a robust local economy and a significant influx of visitors, particularly from mainland China. Key sectors like jewellery and electrical goods saw substantial increases. The government anticipates continued growth in retail, supported by ongoing tourism and local consumption momentum, despite monitoring geopolitical tensions' impact on spending.

- In the first two months of 2026, Hong Kong's retail sales increased by nearly 12% year-on-year, driven by economic growth and a surge in visitors.  
- February's sales reached HK $ 35 billion (approximately US $ 4.47 billion), with a notable 19.3% growth compared to the previous year, largely influenced by the Lunar New Year holiday.  
- The local economy's resilience and rising tourist activity are expected to support retail business in the future, while ongoing geopolitical tensions will be monitored for their potential impact on consumer spending.

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Hong Kong retail sales jump nearly 12% in first 2 months of year

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The Hang Seng Index rose 2% on the first day of the second quarter, closing at 25,294 points. The market's expectations for a possible end to the conflict between the U.S. and Iran drove Hong Kong stocks higher. Technology stocks performed strongly, with KNOWLEDGE ATLAS's share price soaring 31.9%, and the trading volume reaching HKD 4.981 billion. China International Capital Corporation (CICC) released a report stating that KNOWLEDGE ATLAS's performance in 2025 is expected to meet expectations, with revenue projected to grow by 132%

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KNOWLEDGE ATLAS

The Hang Seng Index rose 2% on the first day of the second quarter, with pharmaceutical stocks surging and KNOWLEDGE ATLAS soaring by 30%

Hong Kong's retail sales surged 19.3% in February year-on-year, marking the 10th consecutive month of growth, with total sales reaching HK$35 billion ($4.47 billion). This increase was driven by a 40.2% rise in visitor arrivals, particularly from the Chinese mainland. Notable sales growth was seen in jewellery (24.2%) and clothing (14.1%). The government anticipates continued support for retail businesses from the local economy and increasing visitor numbers.

- In February, Hong Kong's retail sales increased by 19.3% year-on-year, marking the tenth consecutive month of growth and reaching HKD 35 billion (USD 4.47 billion).  
- This surge is the largest since June 2023 when retail sales grew by 19.5%, with specific increases noted in jewelry and clothing sales.  
- A government spokesperson indicated that this momentum, along with a 40.2% rise in visitor numbers to 5.14 million, is expected to sustain retail performance.

Hong Kong Feb retail sales jump 19.3%, seen support from visitor growth

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The Research Department of Central China Real Estate pointed out that in March 2026, the total number of property sale and purchase agreements registered reached 7,729, with a total value of HKD 63.853 billion, a decrease of 2.5% in the number of agreements compared to February, while the value increased by 2.7%. The overall registration figures have remained above 7,000 for six consecutive months, indicating that the seasonal peak in the property market has appeared earlier. In the first quarter, the total number of property sale and purchase agreements registered was 23,284, with a total value of HKD 183.248 billion, showing that the property market continues to warm up. In March, the registration of new private residential properties was 1,413, and the registration of second-hand residential properties was 4,621, both showing changes compared to February

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In "Hong Kong Property," CENTRALCHINA MT: The overall building registration amount in March increased by 2.7% month-on-month

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E Fund CSI Hongkong Bond Investment Theme ETF

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Hwabao Wp S&P Hugangshen China Enhanced Value Index Fund(LOF)-A

Harvest SZSE SME-ChiNext Composite 300 ETF

China, Hong Kong stocks join global relief rally on hopes of end to Iran war

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Hong Kong February retail sales jump 19.3%

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Hong Kong February retail sales jump 19.3%

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The computing power leasing concept became active again, with AURORA hitting its daily limit six times in 11 days, NB CONSTRUCTION surging to the daily limit, Hongjing Technology rising over 10%, and UCloud, Capitalonline, Shunwang Technology, and Canatal following suit. Hong Kong chip stocks surged collectively, with ILUVATAR COREX jumping nearly 12%, HUA HONG SEMI and BIREN TECH rising nearly 6%, and SMIC and SHANGHAI FUDAN increasing by over 3%

- On April 1, both A-shares and Hong Kong stocks opened significantly higher as geopolitical tensions in the Middle East eased, with signals from Iran and the U.S. indicating a willingness to end conflicts.  
- The A-share market saw all three major indices rise over 1%, driven by a surge in computing hardware and chip sectors, while in Hong Kong, the Heng Seng Index opened 2% higher and experienced a slight pullback.  
- In the bond market, government bond futures fluctuated, with mixed movements observed across commodity futures, including gains in precious metals but declines in crude oil and coal.

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AH Shares Rise Collectively: SSE Index Up 1%, Computing Power Hardware Explodes, Hang Seng Index Up 2%, Internet Tech Stocks Generally Rebound

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The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held a meeting emphasizing that the employment of college graduates is an important political task, enhancing the sense of responsibility and urgency to reserve talent for the high-quality development of enterprises. The meeting proposed multiple measures to stabilize recruitment scale, launch actions for state-owned enterprises to expand positions and increase recruitment, tap into the potential of job positions, increase recruitment numbers, focus on professional compatibility, and strengthen publicity and guidance, encouraging graduates to devote themselves to the industrial front lines

Shenzhen Index

SASAC Holds Meeting on Promoting Employment of College Graduates in State-owned Enterprises

$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!

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Tencent HK SDR 10to1

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Tencent Holdings Limited

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GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

POP MART HK SDR 20to1

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Alibaba HK SDR 5to1

Alibaba

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)

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Xiaomi HK SDR 2to1

Xiaomi Corporation

$XTALPI(02228.HK)$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)

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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)

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BI#HSI RC2809J Stock Performance Chart

Hong Kong Stocks Rebound as Middle East Tensions Ease

Hong Kong Real Estate Stocks Face Uncertainty Amid Middle East Conflict

Hang Seng Index main contract overnight futures closed up 0.01% at 25301 points. Hang Seng TECH Index main contract overnight futures closed down 0.15% at 4743 points

Hong Kong retail sales jump nearly 12% in first 2 months of year

The Hang Seng Index rose 2% on the first day of the second quarter, with pharmaceutical stocks surging and KNOWLEDGE ATLAS soaring by 30%