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Hong Kong Stocks Have Support for a Continued Bull Run

The Hong Kong index of the top shares has a clear support level for further gains.

HK 50 – Daily Chart

The HK 50 continued a bearish slant into year-end with a third or fourth test of support just ahead of the April highs. That could be a platform for another move higher if global sentiment is positive.

Losses in technology heavyweights like Kuaishou, Tencent and Xiaomi on Tuesday, with the Hang Seng closing 0.1% lower. The Hang Seng Tech Index dropped by 0.7%, while the CSI 300 Index climbed 0.2%. Kuaishou fell as much as 6% on Tuesday after a cyberattack hit the short-video platform.

Goldman Sachs analysts said in a Monday report that they expect the China stock bull run to continue next year, but at a slower pace. The bank sees Chinese stocks gaining 38% by the end of 2027, driven by 14% profit growth in 2026 and 12% the following year.

Hedge funds cut bets in Hong Kong in mid-December and added short bets to Japan, but the outlook will be better for the HK 50 in the new year as Japan continues to be at the mercy of its bond market struggles in recent weeks.

Japan’s 10-year bond hit a 26-year high after another BOJ rate rise and fears over the country’s debt and spending.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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