Hong Kong stocks rose on Monday alongside Asia-Pacific markets, with traders upbeat about finishing the year on a strong note.
The Hang Seng Index closed 0.4 per cent higher at 25,801.77, paring some of the 1.1 per cent loss last week. The Hang Seng Tech Index gained 0.9 per cent. On the mainland, the CSI 300 Index climbed 1 per cent and the Shanghai Composite Index added 0.7 per cent.
Trading in Hong Kong will be shortened over the holiday period, with an early close on Christmas Eve, while the market will remain shut on December 25 and 26. Southbound trading through the Stock Connect link will also be suspended from December 24 afternoon before resuming on December 29.
Leading the gainers, chipmaker SMIC jumped 5.9 per cent to HK$68.90 and blind-box toymaker Pop Mart International advanced 4.6 per cent to HK$201.80. Online travel-booking agency Trip.com rose 2.7 per cent to HK$575, and search-engine giant Baidu gained 1.3 per cent to HK$120.30.
Limiting the gains, pharmaceutical firm WuXi AppTec slumped 2.6 per cent to HK$101.10 and peer Innovent Biologics fell 1.7 per cent to HK$81.80. Logistics major ZTO Express lost 1 per cent to HK$165.10, while smartphone and carmaker Xiaomi retreated 1.8 per cent to HK$39.80.
Hong Kong’s market mirrored a rally in the US on Friday as investors positioned for gains to continue in 2026. The S&P 500 Index advanced 0.9 per cent and Nasdaq gained 1.3 per cent.
“The picture is familiar to anyone who has traded Santa rallies before,” said Stephen Innes, managing partner at SPI Asset Management. “The tape is being supported by positioning, rate cut expectations, market-based plumbing liquidity, and the absence of a catalyst strong enough to force de-risking.”
He added that volatility would not disappear, especially with AI valuation debates simmering beneath the surface, “but for now, the market is choosing to look forward rather than flinch”.
Four stocks debuted in Hong Kong. Nanhua Futures fell 24 per cent to HK$9.10, B&K retreated 29 per cent to HK$27, BenQ BM Holding lost 49 per cent to HK$4.72 and Impression Dahongpao lost 35 per cent to HK$2.33.
Elsewhere in Asia-Pacific, Japan’s Nikkei 225 climbed 1.8 per cent, South Korea’s Kospi rose 2.1 per cent and Australia’s S&P/ASX 200 added 0.9 per cent. -- SOUTH CHINA MORNING POST
