HS#HSI RC2811N

Financial Secretary Paul Chan's Budget Speech Predicts HK Economic Growth

Hang Seng Index Futures Closed on February 25th

HSI Futures, HKC Futures, and H shares Index Futures Open Lower than Spot Prices

LJ Group Analyzes Hong Kong Private Housing Construction and Completion

HANG SENG Index Bull and Bear Warrant Ratio and Quantity Updates

Hang Seng Index Futures Night Session Down 0.75%

HSI Night Index Futures Quotation Up 43 Points

Futures Open Higher Than Spot Prices

Hang Seng Index Futures Open 1.52% Higher at 26,787.44

Significant Rise in Singapore Black Index and Overnight Futures

Hong Kong Monetary Authority's Assessment and Outlook of Hong Kong's Economy

Hang Seng Index Night Futures (February) Up 38 Points

HSI Futures Midday Decline Expands to 1%

Hong Kong Futures Open Up 0.05% at 26820 Points

HSI Ends Two-Day Losing Streak, Rises by Nearly 140 Points

HSI Futures Night Session Closed Up 1.04% at 26,778.91

HKMA Injects HKD 4.73 Billion in Liquidity

Hang Seng Index Futures Feb and Mar Contracts Ended Higher

HSI Futures Open Down 0.45% at 26,383.50 Points

Hang Seng Index Futures Open 1.24% Lower in Day Session

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The Financial Secretary, Paul Chan, announced in the "2026 Budget" that the Mandatory Provident Fund Schemes Authority will implement a "full free choice" arrangement, with the first phase covering employees who join after May 1, 2025. The government plans to submit a bill for amendment in the first half of next year to extend this to existing employees who joined earlier, enhancing employee choice. At the same time, the MPFA will optimize the procedures for recovering overdue contributions and increase the flexibility of investing in the Mandatory Provident Fund. Relevant consultations will be conducted this year

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Fiscal Budget 2026 | MPF to launch "Fully Flexible" first phase covering employees hired after May 2025

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Hong Kong's Financial Secretary Paul Chan will lead a tax policy review as part of the 2026-27 budget. He noted that a stock market boom has led to a surplus in the government's operating account for the 2025-26 financial year, estimated at HK$500 million (US$64 million). However, Chan emphasized the need for prudence in maintaining cash reserves to address geopolitical uncertainties and support long-term growth, cautioning against potential market speculations.

- Financial gains in the stock market have allowed Hong Kong's government to achieve a surplus in the 2025-26 fiscal year, one year ahead of schedule.  
- Estimated surpluses could reach approximately 500 million HKD (64 million USD) according to accounting firms.  
- However, financial secretary Paul Chan warns that maintaining cash reserves is crucial to counter geopolitical shocks and to support long-term growth amidst a potentially "complex" geopolitical environment.

南华早报

China Southern Hang Seng ETF

China Southern Hang Seng ETF Feeder Fund-A

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

HSTECH ETF

Budget 2026-27: Paul Chan to lead tax policy review as incentives unveiled

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Hong Kong's Financial Secretary Paul Chan presented the budget for fiscal 2026/27, focusing on support for businesses and residents to boost economic recovery amid challenges like U.S. trade uncertainty. Key projections include a 3.5% GDP growth in 2025 and a forecast of 2.5%-3.5% growth for 2026. The budget allocates funds for AI integration, healthcare initiatives, and infrastructure projects, including a national manufacturing innovation center. Measures to enhance the regulatory framework for listed companies and promote digital assets are also outlined.

marketscreener

HASHKEY HLDGS

EXCERPTS-Hong Kong presents budget for fiscal 2026/27

The People's Bank of China issued 30 billion yuan in 3-month central bank bills in Hong Kong, with a winning rate of 1.53%; it also issued 20 billion yuan in 1-year central bank bills, with a winning rate of 1.47%

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Hong Kong's Financial Secretary Paul Chan has revealed plans to issue the first stablecoin issuer licenses in March under a new regulatory framework. According to NS3.AI, the government aims to introduce a comprehensive digital asset policy ordinance this year, which will establish licensing for digital asset trading and custody service providers. The Hong Kong Securities and Futures Commission is set to enhance market liquidity and promote innovation while ensuring investor protection.

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First Trust Indxx Innov

Amplify Transform Data Sharing ETF

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Galaxy Digital

Siren ETF Trust Siren Nasdaq NexGen Economy ETF

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Hong Kong to Issue First Stablecoin Licenses in March

The Hong Kong government plans to submit a draft amendment to the ordinance on tax deductions for capital expenditures on intellectual property within the year, to promote intellectual property transactions and financing, and to consolidate Hong Kong's position as a regional intellectual property trading center. Financial Secretary Paul Chan stated that the relevant measures will reduce costs and promote the development of knowledge-intensive industries. In addition, an intellectual property financing sandbox was launched at the end of last year, and the government also plans to collaborate with the Vocational Training Council to establish an "Intellectual Property Academy" to provide on-the-job training

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The Hong Kong government plans to submit a bill to amend the ordinance regarding tax deductions for capital expenditures on intellectual property within the year in the "Budget"

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The Hang Seng Index closed at 26,789 points, up 199 points or 0.8%; the Hang Seng Tech Index reported 5,288 points, up 17 points or 0.3%. The China Enterprises Index rose 81 points or 0.9%, closing at 9,088 points. Among the actively traded blue-chip stocks, Meituan, Ping An, Tencent, and Alibaba all saw increases, with Haidilao rising more than 5%. Li Ning, Sinopharm, CHINA RES MIXC, Hengan, and MTR all reached new highs

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ChinaAMC Hang Seng Technology ETF(QDII)

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The Half-Day Report: The Hang Seng Index closed at 26,789 points, up 199 points; the Hang Seng Tech Index closed at 5,288 points, up 17 points. HAIDILAO rose over 5%, LI NING, SINOPHARM, CHINA RES MIXC, Hengan, and MTR reached new highs

Hong Kong's Financial Secretary Paul Chan forecasts economic growth of 2.5 to 3.5 percent in 2026, reflecting confidence after a strong recovery last year. The economy grew 3.5 percent in 2023, the fastest since 2021. Chan highlighted improvements in fiscal health, with a balanced consolidated account and a surplus in the operating account. The government plans to enhance support for citizens and small businesses, potentially increasing tax exemptions and civil servant salaries. Significant funding may be allocated for innovation and cultural tourism, aligning with China's development goals.

- Hong Kong's Financial Secretary Chen Maobo projects economic growth of 2.5% to 3.5% for 2026, reflecting confidence in post-pandemic recovery.  
- This forecast surpasses the previous government estimate of 2% to 3% for 2025, highlighting significant financial improvements, including a surplus in operational accounts.  
- The government aims to enhance support for citizens and small businesses while planning investments in key sectors like technology and rural tourism, amidst cautious financial management.

Businesstimes News

Hong Kong sees fast growth continuing into 2026 on rebound

Hong Kong's Financial Secretary, Paul Chan, announced plans to expand stamp duty exemptions on intra-group asset transfers in the 2026 Budget to enhance the business environment. A legislative amendment proposal will be submitted this year, with new criteria effective immediately. Additional measures, including tax incentives for corporate treasury centers, will be introduced mid-year. Since the re-domiciliation regime's implementation, 22 cases have been approved, with 20 more in process. The government aims to promote Hong Kong as a business hub.

Hong Kong Proposes Stamp Duty Exemption Expansion to Boost Business Environment

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The Financial Secretary, Paul Chan, stated that in order to promote the application of financial technology and enhance the efficiency of the asset management market, the Hong Kong Monetary Authority's Faster Payment System will establish a digital asset platform within the year to support the issuance and settlement of digital bonds, and will gradually expand to other digital assets, as well as connect with other tokenized platforms in the region, consolidating Hong Kong's leading position in digital assets

OSL GROUP

Budget Proposal: Chan Mo-po: Rapid Clearing and Settlement to Establish Digital Asset Platform Within the Year to Support Digital Bond Issuance and Settlement

The Financial Secretary Paul Chan stated that to optimize the business environment and facilitate internal restructuring for enterprises, it is recommended to relax the stamp duty exemption criteria for intra-group asset transfers to expand the scope of eligible related legal entities. The authorities will submit a bill for amendment within the year, and the relevant suggestions will apply to documents signed from today onwards

Budget Proposal: Chan Mo-po suggests relaxing the stamp duty exemption criteria for intra-group asset transfers

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The Financial Secretary Paul Chan announced in the new budget that the Hong Kong Stock Exchange's integrated fund platform will expand this year to cover payment and settlement processes for fund sales, aiming to enhance market efficiency and reduce transaction costs. In addition, Hong Kong will optimize its tax system to attract more family offices and funds, with plans to take effect from the 2025/26 tax year. The Hong Kong government will also promote innovation in the bond market, regularly issuing tokenized bonds and launching an electronic trading platform for bonds to solidify Hong Kong's position as a global center for fixed income and currency

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The "Budget" will expand the Hong Kong Stock Exchange's comprehensive fund platform this year to cover fund sales payment and settlement

Hong Kong govt says Q4 GDP +3.8% y/y

Hong Kong govt says Q4 GDP +3.8% y/y

Hong Kong govt says Q4 GDP +1.0% qtr/qtr

Hong Kong govt says Q4 GDP +1.0% qtr/qtr

$Hang Seng Index(00HSI.HK)has evolved into a hybrid market that reflects China’s economic cycle more than Hong Kong’s domestic fundamentals. Its performance is increasingly driven by mainland policy follow-through, earnings durability in platform and financial stocks, and cross-border capital flows via Stock Connect. Valuation alone is no longer a catalyst; sustained upside depends on whether policy support translates into real profit recovery and renewed confidence from long-term global investors.

$XTALPI(02228.HK) The first to rise in the Hong Kong stock watch list! Push it up!

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CSOP A50 ETF-R

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GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

POP MART HK SDR 20to1

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The exchange rate of HKD against USD is rising rapidly. Will there still be big opportunities in Hong Kong stocks? $Hang Seng Index(00HSI.HK) $Hang Seng TECH Index(STECH.HK)

While the US stock market hovers under the shadow of tariffs, the Hong Kong stock market is experiencing a liquidity-driven structural frenzy. But is this 'Hong Kong stocks feast' the beginning of a trend revaluation, or a short-lived bubble induced by capital?From a macro perspective, the weak dollar cycle and the abundance of Hong Kong dollar liquidity are the core drivers of the Hong Kong stock market. In May, US tariff revenue surged to a peak of $22 billion, yet the CPI remained stable, coupled with the potential impact of immigration policies on the job market, the probability of a Fed rate cut in June-July is extremely low. The US stock market remains in a tug-of-war between 'chicken ribs market and downside risk.' In contrast, the Hong Kong dollar exchange rate has quickly slid from the strong-side guarantee to the weak-side edge, HIBOR rates are nearly zero, and the abundant liquidity is flooding into new consumption, innovative drugs, and A/H premium targets, driving both blue-chip dividend stocks and growth assets higher.However, the sustainability of the structural revaluation of Hong Kong stocks is highly dependent on the liquidity environment. The current extremely low level of HIBOR has deviated from the US benchmark interest rate. If the Fed's policy shifts or there are changes in the supply and demand of funds, a liquidity retreat could trigger a valuation correction. More critically, the structural premium of the same asset in Hong Kong stocks compared to A-shares lacks fundamental support. In a market dominated by southbound funds, caution is needed against the risk of valuation overshoot under 'capital frenzy.'In the short term, as long as the cost of borrowing in Hong Kong dollars remains low, there is still room for liquidity-driven revaluation to continue. However, in the long term, whether Hong Kong stocks can escape the 'capital market' dilemma depends on whether corporate earnings can take over liquidity as the anchor of valuation. Investors need to closely monitor changes in HIBOR rates and maintain sensitivity to risks amid the liquidity feast. $Hang Seng Index(00HSI.HK)

$Hang Seng Index(00HSI.HK)When the Hong Kong dollar triggers the strong-side convertibility undertaking, the Hong Kong government will be forced to issue Hong Kong dollars to buy US dollars (unless Hong Kong abandons the linked exchange rate system due to another crisis caused by excessive base money).Short-term may benefit the Hong Kong stock market.

On a weekly basis, the southbound capital flow in Hong Kong stocks was a net outflow in the past week. This is unusual, as it's the first time this has happened in at least over a year. $HSTECH ETF(03032.HK) $Hang Seng Index(00HSI.HK) $XIAOMI-W(01810.HK)

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Xiaomi HK SDR 2to1

Xiaomi Corporation

$XTALPI(02228.HK)$Hang Seng Index(00HSI.HK)This is a key macro indicator for Hong Kong stocks.

$Hang Seng Index(00HSI.HK) $XTALPI(02228.HK) Who should be blamed for these poor souls in Hong Kong stocks today? Sigh... damn it

During the 2018 trade war, Gao Shanwen gave a relatively well-known internal speech:Our generation has already made enough money, so young people should just wash up and go to sleep.As for the 2025 tariff war, what I want to say is: young people might not be able to sleep.$Hang Seng Index(00HSI.HK)$Hang Seng TECH Index(STECH.HK)$Invesco QQQ Trust(QQQ.US)$SPDR S&amp;P 500(SPY.US)

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SPDR S&P 500

Another day protected by southbound capital! At 13:30 in the afternoon, the southbound capital suddenly surged, and the intraday chart skyrocketed after a 10-minute delay (did you day trade during these 10 minutes? 😂).Unlike yesterday, the southbound capital first rose and then fell in the morning, showing overall weakness. By 13:30, the net purchase was only 1.5 billion. After the surge, the cumulative net purchase for the day reached 5.15 billion. Compared with yesterday, I'm more convinced that there is a will behind the southbound capital.$Hang Seng Index(00HSI.HK) $BABA-W(09988.HK) $TENCENT(00700.HK)

HS#HSI RC2811N(55239.HK)

Fiscal Budget 2026 | MPF to launch "Fully Flexible" first phase covering employees hired after May 2025

Budget 2026-27: Paul Chan to lead tax policy review as incentives unveiled

EXCERPTS-Hong Kong presents budget for fiscal 2026/27

The People's Bank of China issued 30 billion yuan in 3-month central bank bills in Hong Kong, with a winning rate of 1.53%; it also issued 20 billion yuan in 1-year central bank bills, with a winning rate of 1.47%

Hong Kong to Issue First Stablecoin Licenses in March