NewTimeSpace Hong Kong Stock Market Close | Three Major Indices Fluctuate and Strengthen, Hang Seng Index Closes Up 0.86%, Robotics, Semiconductors and Other Sectors Lead Gains
On December 30, 2025, Hong Kong's three major indices fluctuated and strengthened. The Hang Seng Index (HSI) closed up 0.86% at 25,854.6 points; the Hang Seng Tech Index (HSTI) rose 1.74% to 5,578.38 points; the Hang Seng China Enterprises Index (HSCEI) climbed 1.12% to 8,991.02 points. The market's total trading volume reached HK$199.769 billion, with Southbound Capital recording a net outflow of HK$3.845 billion.
In terms of the market performance by sector: Large tech stocks boosted the broader market, some consumer-related themes rebounded, retail e-commerce and other sectors rose, while robotics, semiconductors, non-ferrous metals and other sectors led the gains. Previously strong silicon wafer sector pulled back, and green power, pharmaceuticals and other sectors were among the top decliners.
Among HSI components: 57 stocks rose and 29 fell. In terms of gains, Baidu Group-SW surged 8.90%, SMIC climbed 4.24%, and CNOOC increased 3.97%. For declines, Pop Mart dropped 4.55%, Longfor Group fell 1.73%, and AB InBev Asia Pacific slipped 1.67%.
Among HSTI components: 26 stocks rose and 3 fell. Hua Hong Semiconductor gained 3.86%, Horizon Robotics-W rose 2.72%, and NetEase-S increased 2.59%. For declines, Leapmotor dropped 0.60%, Li Auto-W fell 0.45%, and Alibaba Health Information Technology slipped 0.39%.
Among Hong Kong Stock Connect components: Innoscience soared 15.35%, Yuejiang jumped 13.45%, and Sanhua Intelligent Controls rose 12.53%. For declines, Zhejiang Shibao plummeted 11.45%, Lionrock Holdings dropped 11.39%, and Goldwind Science & Technology fell 10.99%.
Zheshang International Financial Holdings stated in its Hong Kong stock market outlook: Fundamentally, China's economy is still in a bottoming-out phase with weak economic data; Policy-wise, technological innovation and expanding domestic demand will be the key focus of subsequent policies; Liquidity-wise, the probability of the Federal Reserve cutting interest rates in January 2026 is less than 20%; Sentiment-wise, Hong Kong stocks' short-term sentiment has improved around Christmas.
Regarding sector allocation, it is optimistic about: New energy, innovative drugs, AI technology and other sectors with relatively strong prosperity and benefiting from policy support; Low-valuation state-owned central enterprise dividend sector with stable performance and stock prices, which also benefits from policy favorable conditions; Hong Kong local banks, telecommunications and utilities dividend stocks with relatively independent fundamentals and benefiting from the interest rate cut cycle. (Source: Zheshang International Financial Holdings' "Hong Kong Stock Market Strategy Weekly Report" dated December 30, 2025)
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