Hong Kong’s top share index (HK50) has the March highs waiting as support below the current level, as analysts remain positive on the market for 2026.
HK 50 – Daily Chart
The March high became support in September, supporting the rally to the 2025 high. The price is now close to the 24,900-25,000 level and may test it before a further advance.
HSBC and JPMorgan are among the banks that are positive on the Hong Kong and Chinese share markets in 2026.
HSBC Private Bank set a target of 31,000 for the Hang Seng Index next year, which would mark another 22%. Both China and Hong Kong stocks could deliver 20% gains in 2026, boosted by global growth, higher earnings and easing competition in e-commerce, according to JPMorgan.
“Earnings are giving us confidence,” said Chief China strategist Wendy Liu. She added that China was tracing a period of earnings recovery after a slump from 2021 to mid-2024, which led to a lack of foreign investment.
“We’re still halfway in terms of the growth expansion, and earnings are looking good,” Liu said.
Meanwhile, accounting firm KPMG is positive on the IPO market in Hong Kong for 2026. The market is expected to rise to HK$350 billion next year, adding to the momentum built in 2025. KPMG forecasts a number of between 180 and 200 applications will happen next year, representing a 28.7% increase on a record year.
“We also expect 2026 to be a pivotal year for hi-tech listings, further solidifying Hong Kong’s position as a global capital markets leader,” said Louis Lau Tai-cheong at KPMG in China.
