<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/chainlink-ubs-hong-kong.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/chainlink-ubs-hong-kong.png"/></p>
<p>恒生指数在 2025 年表现良好，涨幅达到 30%，超越了其他全球主要指数，如标准普尔 500 指数、道琼斯指数和纳斯达克 100 指数。周一交易时，该指数报 25,935 美元，比 4 月份的最低点上涨了约 40%。本文探讨了此次反弹背后的主要原因和表现最佳的公司。</p>
<h2>恒生指数在 2025 年飙升的原因</h2>
<p>恒生指数追踪中国最大的公司，在 2025 年表现出色。首先，反弹是由于全球股票市场的持续表现，大多数指数均呈上涨趋势。这包括德国 DAX、纳斯达克 100 和多伦多证券交易所综合指数等热门指数。</p>
<p>其次，在唐纳德·特朗普宣布与中国达成贸易协议以确保稀土材料后，该指数大幅上涨。他将关税从超过 100% 削减至当前的 15%。</p>
<p>此外，该指数还受益于今年人工智能交易的热潮。这一点很重要，因为该指数由一些人工智能行业最大的公司组成，如腾讯和阿里巴巴。</p>
<p>中国经济持续向好，分析师预计将达到 5% 的重要里程碑。一个迹象是铜价飙升，创下 13,000 美元的历史新高。铜被广泛视为全球经济的晴雨表。</p>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Hang-Seng-Index-2-1024x579.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Hang-Seng-Index-2-1024x579.png"/></p>
<p><em>恒生指数图表 | 来源：TradingView</em></p>
<h2>2025 年恒生指数的表现最佳公司</h2>
<p>今年，恒生指数中的大多数公司表现良好。中国宏桥集团的股票今年上涨了 181%，成为该指数表现最佳的公司。这一增长使其十年的涨幅超过 653%，因为铝的需求持续飙升。这一点值得注意，因为它是铝行业中的主要参与者之一。</p>
<p>紫金矿业的股价今年上涨了 154%，因为铜和黄金价格持续上涨。黄金价格翻了一番，突破了 4,500 美元的关键阻力位。白银价格接近 80 美元，而它开采的其他金属价格也在上涨。</p>
<p>中芯国际是中国最大的芯片制造公司之一，今年上涨了 126%，因为人工智能的繁荣加速。过去十年中，该公司股价上涨超过 800%。</p>
<p>与此同时，泡泡玛特的股价上涨了 126%，受益于持续的 labubu 热潮。然而，由于对其需求的担忧，该股在过去三个月中下跌了 22%。</p>
<p>恒生指数中的其他表现最佳公司包括创新药物、汉森制药集团、京东健康和中国生物制药集团。</p>
<p>一些关键公司表现良好。例如，阿里巴巴上涨超过 78%，因为公司的转型战略加速。汇丰控股的股票因银行业的持续繁荣而飙升，同时其转型也在继续。恒生银行在被汇丰收购后也大幅上涨。</p>
<p>今年，恒生指数中有一些显著的滞后者。美团的股价因与阿里巴巴和京东的价格战加剧而下跌了 30%。理想汽车和比亚迪的股票也双双下跌，因对中国电动车的需求感到担忧。</p>
<p>投资者担心这些公司在许多中国省份开始结束补贴后会面临需求减弱。因此，市场参与者担心这些公司在今年的增长将放缓。</p>
<p>恒生指数中的其他滞后者包括中升集团、京东、新东方、中国蒙牛乳业、龙湖集团和京东物流。</p>
<p>阅读更多：恒生指数在 2025 年可能飙升的主要原因</p>
<p>这篇文章最初发表于 Invezz，标题为《恒生指数在 2025 年上涨 30%：表现最佳的公司》。</p>

<p>在 2025 年，恒生指数上涨了 30%，表现超过了全球指数，如标准普尔 500 指数。主要推动因素包括美国与中国之间的贸易协议、人工智能行业的增长以及中国经济的强劲表现。涨幅最大的公司包括中国宏桥集团、紫金矿业集团和中芯国际，而美团和理想汽车则表现不佳。人们对中国电动车行业需求减弱的担忧依然存在</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/chainlink-ubs-hong-kong.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/09/chainlink-ubs-hong-kong.png"/></p>
<p>The Hang Seng Index had a good performance in 2025 as it jumped by 30%, outperforming other top global indices like the S&amp;P 500, Dow Jones, and the Nasdaq 100 Index. It was trading at $25,935 on Monday, up by ~40% from its lowest level in April. This article explores some of the top reasons behind the rally and the top gainers.</p>
<div class="lb-trans"><p>恒生指数在 2025 年表现良好，涨幅达到 30%，超越了其他全球主要指数，如标准普尔 500 指数、道琼斯指数和纳斯达克 100 指数。周一交易时，该指数报 25,935 美元，比 4 月份的最低点上涨了约 40%。本文探讨了此次反弹背后的主要原因和表现最佳的公司。</p>
</div><h2>Why the Hang Seng Index soared in 2025</h2>
<div class="lb-trans"><h2>恒生指数在 2025 年飙升的原因</h2>
</div><p>The Hang Seng Index, which tracks the biggest companies in China, did well in 2025. First, the rally was because of the ongoing performance in the global equities market, with most indices being in the green. This includes popular indices like the German DAX, the Nasdaq 100, and the TSX Composite.</p>
<div class="lb-trans"><p>恒生指数追踪中国最大的公司，在 2025 年表现出色。首先，反弹是由于全球股票市场的持续表现，大多数指数均呈上涨趋势。这包括德国 DAX、纳斯达克 100 和多伦多证券交易所综合指数等热门指数。</p>
</div><p>Second, the index jumped after Donald Trump announced a trade deal with China in his bid to secure rare earth materials. He slashed tariffs from over 100% to the current 15%.</p>
<div class="lb-trans"><p>其次，在唐纳德·特朗普宣布与中国达成贸易协议以确保稀土材料后，该指数大幅上涨。他将关税从超过 100% 削减至当前的 15%。</p>
</div><p>Additionally, the index benefited from the artificial intelligence trade experienced this year. That is important as the index is made up of some of the biggest companies in the AI industry, like Tencent and Alibaba.</p>
<div class="lb-trans"><p>此外，该指数还受益于今年人工智能交易的热潮。这一点很重要，因为该指数由一些人工智能行业最大的公司组成，如腾讯和阿里巴巴。</p>
</div><p>The Chinese economy continued doing well, with analysts expecting it to hit the important milestone of 5%. One sign that this will happen is the soaring copper price, which hit a record high of $13,000. Copper is widely seen as the barometer for the global economy.</p>
<div class="lb-trans"><p>中国经济持续向好，分析师预计将达到 5% 的重要里程碑。一个迹象是铜价飙升，创下 13,000 美元的历史新高。铜被广泛视为全球经济的晴雨表。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Hang-Seng-Index-2-1024x579.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/Hang-Seng-Index-2-1024x579.png"/></p>
<p><em>Hang Seng Index chart | Source: TradingView</em></p>
<div class="lb-trans"><p><em>恒生指数图表 | 来源：TradingView</em></p>
</div><h2>Top gainers in the Hang Seng in 2025</h2>
<div class="lb-trans"><h2>2025 年恒生指数的表现最佳公司</h2>
</div><p>Most companies in the Hang Seng Index did well this year. China Hongqiao Group stock jumped by 181% this year and was the best-performing company in the index. This increase brought its ten-year gains to over 653% as demand for aluminium continued soaring. This is notable as it is one of the biggest players in the aluminium index.</p>
<div class="lb-trans"><p>今年，恒生指数中的大多数公司表现良好。中国宏桥集团的股票今年上涨了 181%，成为该指数表现最佳的公司。这一增长使其十年的涨幅超过 653%，因为铝的需求持续飙升。这一点值得注意，因为它是铝行业中的主要参与者之一。</p>
</div><p>Zijin Mining Group stock price jumped by 154% this year as the copper and gold pricescontinued their bull run. Gold more than doubled and moved above the key resistance level at $4,50. Silver price is nearing $80, while other metals it mines continue rising.</p>
<div class="lb-trans"><p>紫金矿业的股价今年上涨了 154%，因为铜和黄金价格持续上涨。黄金价格翻了一番，突破了 4,500 美元的关键阻力位。白银价格接近 80 美元，而它开采的其他金属价格也在上涨。</p>
</div><p>SMIC, one of the biggest chip manufacturing companies in China, soared by 126% this year as the artificial intelligence boom accelerated. It has jumped by over 800% in the last decade.</p>
<div class="lb-trans"><p>中芯国际是中国最大的芯片制造公司之一，今年上涨了 126%，因为人工智能的繁荣加速。过去十年中，该公司股价上涨超过 800%。</p>
</div><p>Meanwhile, the Pop Mart stock price jumped by 126%, helped by the ongoing labubu craze. However, the stock has plunged by 22% in the last three months as concerns about its demand remained.</p>
<div class="lb-trans"><p>与此同时，泡泡玛特的股价上涨了 126%，受益于持续的 labubu 热潮。然而，由于对其需求的担忧，该股在过去三个月中下跌了 22%。</p>
</div><p>The other top gainers in the Hang Seng Index were companies like Innovent Biologics, Hansoh Pharmaceutical Group, JD Health, and Sino Biopharmaceutical Group.</p>
<div class="lb-trans"><p>恒生指数中的其他表现最佳公司包括创新药物、汉森制药集团、京东健康和中国生物制药集团。</p>
</div><p>Some key companies in the index did well. For example, Alibaba jumped by over 78% as the company’s turnaround strategy accelerated. HSBC stock soared because of the ongoing boom in the banking sector, and as its turnaround continued. Hang Seng Bank also jumped after being acquired by HSBC.</p>
<div class="lb-trans"><p>一些关键公司表现良好。例如，阿里巴巴上涨超过 78%，因为公司的转型战略加速。汇丰控股的股票因银行业的持续繁荣而飙升，同时其转型也在继续。恒生银行在被汇丰收购后也大幅上涨。</p>
</div><p>There were some notable laggards in the Hang Seng Index this year. Meituan’s stock price plunged by 30% this year as the price war with Alibaba and JD accelerated. Li Auto and BYD stocks dropped by double digits as concerns about the Chinese electric vehicle (EV) remained.</p>
<div class="lb-trans"><p>今年，恒生指数中有一些显著的滞后者。美团的股价因与阿里巴巴和京东的价格战加剧而下跌了 30%。理想汽车和比亚迪的股票也双双下跌，因对中国电动车的需求感到担忧。</p>
</div><p>Investors are concerned that these companies will see waning demand after many Chinese provinces started to end the subsidies. As such, market participants worry that the companies will see slow growth during the year.</p>
<div class="lb-trans"><p>投资者担心这些公司在许多中国省份开始结束补贴后会面临需求减弱。因此，市场参与者担心这些公司在今年的增长将放缓。</p>
</div><p>The other top laggards in the Hang Seng Index were Zhongsheng Group, JD.com, New Oriental, China Mengniu Dairy, Longfor Group, and JD Logistics.</p>
<div class="lb-trans"><p>恒生指数中的其他滞后者包括中升集团、京东、新东方、中国蒙牛乳业、龙湖集团和京东物流。</p>
</div><p>READ MORE: Top reasons why the Hang Seng Index may surge in 2025</p>
<div class="lb-trans"><p>阅读更多：恒生指数在 2025 年可能飙升的主要原因</p>
</div><p>The post Hang Seng Index jumped 30% in 2025: here are the top gainers appeared first on Invezz</p>
<div class="lb-trans"><p>这篇文章最初发表于 Invezz，标题为《恒生指数在 2025 年上涨 30%：表现最佳的公司》。</p>
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恒生指数在 2025 年上涨了 30%：以下是表现最好的股票