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Stocks
Stock market action from around the world, with a focus on Hong Kong, China and the rest of Asia.
Earnings, and not valuations, will be the main booster for China’s equities in the year ahead. Illustration: Henry Wong
China stock market

From hope to hard numbers: China stocks will need profits to boost the bull run

Chinese shares surged in 2025 on a confidence-led re-rating – strategists now say the next leg in 2026 will hinge on an earnings uplift.

Hong Kong stock market

Firmer yuan fuels share gains on bets Beijing will tolerate appreciation

Banking & finance

Macroscope | Why Wall Street remains bullish on China amid economic slowdown

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China stock market

China stocks recover from early losses on cautious PBOC policy tone

Mainland stocks closed higher after paring earlier losses as investors read the central bank’s latest messaging as supportive but restrained.

This photo shows a general view of screens diplaying financial market movements at the new building of the Shanghai Stock Exchange in Shanghai on April 25, 2025. (Photo by Hector RETAMAL / AFP)
Hong Kong stock market

Hong Kong stocks rise as Wall Street rally boosts confidence in earnings growth

Investors shrug off weaker US Federal Reserve easing hopes and bet on resilient corporate profits into 2026.

China stock market

Chinese ETFs investing in US stocks cap subscriptions as they run out of quotas

GF Fund and E Fund have capped daily subscriptions at 10 yuan, while China Asset Management has stopped accepting new subscriptions.

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Hong Kong stock market

Hong Kong stocks reverse gains as investors take profits before Christmas break

Losses in tech heavyweights like Kuaishou, Tencent and Xiaomi pull Hang Seng Index lower after advancing in the morning session.

Tourists take photos under the Christmas decorations outside the Ocean Terminal in Tsim Sha Tsui. Photo: Jelly Tse
Hong Kong stock market

Hong Kong world’s No 1 IPO venue as fundraising crosses US$35 billion: HKEX

Four companies that raised funds in Hong Kong, including CATL, featured in the world’s top 10 IPOs this year.

IPO

Charles Li halts Hong Kong IPO plan for Micro Connect fund under HKEX Chapter 21

Former HKEX chief shifts to private fund model after regime fails to see a successful listing in a decade, raising call for a review.

China stock market

Goldman forecasts continued growth for Chinese stocks in 2026 as risks fade

The US investment bank, having correctly predicted the stock market gains this year, expects the bull run to continue, but at a slower pace.

An electronic board at the Shanghai Stock Exchange displays various market indicators. Photo: Reuters
Hong Kong stock market

SMIC, Pop Mart lead Hong Kong stocks higher before Christmas trading break

Hong Kong’s market will close early on Wednesday and remain shut on December 25 and 26.

Stock market trading will be limited this week due to the Christmas holiday. Photo: Jelly Tse
Pop Mart

Chinese toymaker Pop Mart targets wider audience with magazine, grow IP

The magazine, which is available for US$5.7 online and at select offline locations, features Michelle Yeoh on the cover.

Moore Threads

Moore Threads unveils new AI chips to challenge Nvidia

The Shanghai-listed chipmaker launched the Huashan chip for AI and the Lushan chip for gaming, promising superior performance for both.

Japan

Bank of Japan’s historic rate increase signals new era for economy

Bank of Japan lifts rates to 0.75 per cent – a 30-year high – ending zero-interest era, paving the way for further increases amid rising inflation.

A man passes a screen in Tokyo showing Japan’s 10-year bond level after the Bank of Japan raised interest rates on Friday. Photo: Reuters
Hong Kong stock market

Hong Kong stocks cap longest win streak in 3 weeks as US inflation cools

Soft US inflation data strengthens the case for monetary easing as the Hang Seng Index gains for a third day.

General view of the Exchange Square in Central. Photo: Jelly Tse
HKEX

HKEX proposes slashing board lot variations to boost liquidity

The moves will remove the entry barrier for retail investors and prepare the city’s exchange for a single board lot unit structure.

Artificial intelligence

Macroscope | Fears of an AI bubble in Asian stock markets are misplaced

The concentration risk so prevalent elsewhere is mitigated in Asia by a diverse equity landscape and the unique strengths in China.

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IPO

Holiday rush: Hong Kong IPO market sparkles with busiest December in years

From biotech to AI, December’s listings – including at least 15 down the stretch – crown the city’s revival in equity fundraising.

Insilico Medicine says its listing could raise up to HK$2.3 billion. Photo: Shutterstock
Hong Kong stock market

Hong Kong stocks tread water as tech giants stumble on AI bubble jitters

Hang Seng Tech Index slides after US equities slump, while investors await inflation report.

Hong Kong stock market

Hong Kong stocks rebound as investors reassess US rate-cut outlook

Hang Seng Index swings as odds of a US Federal Reserve rate cut in January now stand at nearly 26 per cent.

MetaX

MetaX stock soars 700% in Shanghai debut as traders snap up Chinese GPU maker

MetaX closes at 829.90 yuan on Wednesday, from its IPO price of 104.66 yuan, after gaining as much as 755 per cent in intraday trading.

People learn about the AI computing power cabinet equipped with MetaX C600 general-purpose GPU chip at the 2025 World Artificial Intelligence Conference in Shanghai. Photo: Getty
Hong Kong stock market

Hong Kong stocks slump to 3-week low as China growth jitters dampen sentiment

Caution prevails as investors weigh China’s growth prospects after key economic data showed a deceleration across the board.

A general view of the Hong Kong stock exchange. Photo: China News Service/VCG
Hong Kong stock market

Hong Kong stocks slide after China data shows growth running out of steam

China’s November retail sales miss estimates, while falling housing prices show no signs of slowing down.

Banking & finance

Macroscope | As global spending needs grow and debt rises, business as usual won’t suffice

The increase in government debt means that nations must look elsewhere for funds required to meet socioeconomic needs.

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China stock market

‘China’s little Nvidia’ warns of overheating risks after 723% share surge

Moore Threads shares drop 13 per cent on Friday after the GPU maker cautions investors to ‘make decisions prudently and invest rationally’.

“The company’s shares have had a big swing in recent days,” says Moore Threads. Photo: Getty Images
Hong Kong stock market

Hong Kong stocks advance as traders position for additional growth measures

Investors anticipate further easing on monetary, fiscal and property fronts after Beijing vowed to strengthen domestic market.

Traders are hoping authorities will roll out further pro-growth initiatives to better align supply with domestic consumption, according to analysts. Photo: AFP
China stock market

Look beyond AI ‘titans’ for growth stocks, BofA Securities says

Investors should shift focus to AI-driven sectors with more rising stars, under-covered companies and pair-trading opportunities.

Cryptocurrency

Bitcoin drops below US$90,000 as AI worries sour risk appetite

The fall signals renewed market jitters after the historic crypto crash in October.

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