BI#HSI RC2809W

Hong Kong Interbank Offered Rates (HIBOR) Across the Board Slightly Up

Hang Seng Index Night Futures Close Up 181 Points

HSI Futures Night Session Closes Up 0.65% at 26,923

Hong Kong Stock Market Stamp Duty Boosts Government Revenue, 2026 Budget Forecast Shows Little Increase

Government Announces Budget Forecasting Surplus from 2026/27 Fiscal Year Onwards

Hong Kong Increases Stamp Duty on Residential Properties Over HKD 100 Million

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

KEEN OCEAN

MS CONCEPT

FULUM GP HLDG

SUMMI

REGAL PARTNERS

PUTIAN COMM

SIWI SCI & TECH

LINEKONG

EPI (HOLDINGS)

NANFANG COMM

07500

07200

00HSI

HKXCY

07300

00388

03419

The Hong Kong Exchanges and Clearing's net profit last year rose 36% year-on-year to HKD 17.75 billion, exceeding expectations, with the second interim dividend increasing to HKD 6.52

AASTOCKS

FI2 CSOP HSI

FL2 CSOP HSI

Hang Seng Index

Hong Kong Exchanges and Clearing (HKEX)

FI CSOP HSI

HKEX

A GX HSICC

The Hong Kong Stock Exchange's net profit last year rose 36% year-on-year to HKD 17.75 billion, exceeding expectations, with the second interim dividend increasing to HKD 6.52

The latest Hong Kong Interbank Offered Rate (HIBOR) data shows that the overnight rate is 2.4175%, an increase of 27.298 basis points from the previous trading day; the one-week rate is 2.4%, up 10.5 basis points; the one-month rate is 2.4322%, up 7.845 basis points; the three-month rate is 2.6%, up 2.321 basis points; the six-month rate is 2.7872%, up 0.476 basis points; and the twelve-month rate is 2.88506%, up 0.393 basis points. The data is as of February 26, 2026, 11:15

Latest Hong Kong Interbank Offered Rate (HIBOR)

03122

83161

83122

03192

03161

83192

03420

UBS Investment Bank analyst Deng Weishen pointed out that the Hong Kong government has used HKD 150 billion from the foreign exchange fund for northern infrastructure projects for the first time, which helps diversify and optimize the investment portfolio and reduce the need for borrowing. He believes that Hong Kong has room to diversify risks by issuing more RMB-denominated bonds and enhance long-term growth potential. UBS maintains its 2026 real GDP growth forecast at 3.3%, above market consensus, and is focused on government spending and changes in the industrial cycle

A CSOP RMB MM

A CAM RMB MM-R

A CSOP RMB MM-R

A BOS RMB MM

A CAM RMB MM

A BOS RMB MM-R

A VP RMB MM

UBS's Deng Weishen: The government's first use of the foreign exchange fund for Beijing's infrastructure will help diversify and optimize the investment portfolio, reducing the need for further borrowing

02800

S&P Global stated that Hong Kong's public financial situation is robust enough to support a large infrastructure plan. A deficit of about 3% is expected in the fiscal year 2025, and about 2% in the fiscal year 2026. Despite a decline in land sale revenues, strong profits tax and an active stock market have restored operational accounts to surplus. Chinese enterprises seeking to list in Hong Kong are driving IPO growth, which is expected to boost stamp duty revenue. The government plans to invest heavily in the Northern Metropolis project, and while the overall fiscal balance remains in deficit, the deficit rate is expected to decrease to 1.8% from fiscal years 2026 to 2029. Fiscal reserves are expected to start increasing by the end of the fiscal year 2025

TRACKER FUND

S&P: The improvement in Hong Kong's public finances is sufficient to support the massive infrastructure plan

Hong Kong will discontinue the two-decade-old "A Symphony of Lights" show, replacing it with immersive projections across various districts as part of a tourism revamp announced in the latest budget by finance chief Paul Chan. The budget allocates HK$1.66 billion to the Hong Kong Tourism Board, a 35% increase from last year, to promote events and attract tourists. Additional measures include a HK$200 million fund for rural tourism projects and a focus on promoting lesser-known festivals. The government aims to enhance the city's appeal to international visitors, particularly from the Middle East and ASEAN.

南华早报

Hong Kong 2026-27 budget: ‘Symphony of Lights’ to go dark under tourism revamp

The Rating and Valuation Department's property price index shows that in January, the private residential price index rose to 301.4 points, reaching a new high in over a year and a half, marking eight consecutive months of increase. The rental index rose to 201.1 points, setting a historical high. Centaline Property's Chen Yongjie stated that the property market is recovering healthily, benefiting from an improved economic environment and wealth effect, leading to increased confidence in property ownership. Despite the absence of new stimulus measures in the budget, the property market will continue to rise steadily, with demand continuing to increase

The "Hong Kong Property" Rating and Valuation Department's property price index hits a high not seen in over a year and a half. Centaline's Chen Yongjie: Multiple favorable factors drive the property market steadily upward

The Financial Secretary, Paul Chan, stated in a radio program that it is necessary to cautiously adjust policies to avoid significant fluctuations in the property market. He emphasized the importance of monitoring the development of the property market and land supply, with the goal of maintaining stable and healthy development in the residential property market. Although the supply of private residential and public housing has steadily increased, the new fiscal budget pays little attention to the property market. He explained that the decision not to raise the property stamp duty threshold to HKD 6 million is due to the increase in transaction volume and the rise in some property prices after the threshold was raised to HKD 4 million last year, thus careful policy adjustments are required

Chan Mau-po: Policies need to be adjusted cautiously to avoid significant fluctuations in the property market due to minor adjustments

513600

03115

159920

03037

The Urban Renewal Authority will receive a funding of HKD 300 million to launch an enhanced "Tendering Assistance" service aimed at reducing the risk of collusion in building maintenance projects. It is expected to use no more than HKD 100 million as initial funding to support the establishment of the new service framework and platform, and to provide financial assistance to property owners. The Urban Renewal Authority is discussing specific measures with the Development Bureau, planning to implement the new service in the second half of the year to continue supporting the citizens of Hong Kong

China Southern Hang Seng ETF

ISHARESHSI

ChinaAMC Hang Seng ETF

CSOP HSI ETF

Urban Renewal Authority: Will allocate at least HKD 100 million as startup funds to provide enhanced "Tendering Services"

The government announced in the "Fiscal Budget" that it will continue to promote Hong Kong as a regional intellectual property trading center, focusing on investments including funding for technology and innovation support centers, expanding the patent examination team, and establishing an intellectual property academy. Partner at MinterEllison, Richard Yu, welcomed this, believing that these measures will attract technology companies. Although the effects may take years to manifest, it is an important step in enhancing Hong Kong's recognition as an intellectual property trading hub

Morrison & Foerster: The government continues to promote Hong Kong's development as a regional intellectual property trading center, which will attract more technology companies

The Hong Kong Trade Development Council welcomes the government's financial budget, which allocates HKD 200 million to the BUD Special Fund to support small and medium-sized enterprises and economic transformation. The Trade Development Council will work in conjunction with the government's policies to promote the development of Hong Kong as an international financial center and an innovation technology hub, expand global markets, and assist enterprises in achieving digital transformation and enhancing competitiveness. The financial budget also mentioned strengthening financial services for the real economy and promoting cross-industry collaboration

The Trade Development Council: The government injects HKD 200 million into the BUD Special Fund to support Hong Kong's SMEs and emphasize economic transformation and high-quality development

512820

Sun Yu, Vice Chairman and President of BOC Hong Kong, welcomed the new "Fiscal Budget" and believed that the measures in the budget would promote financial services to the real economy and advantageous industries, attract international funds, enhance market liquidity, and consolidate Hong Kong's position as a hub between the mainland and international markets. The budget will also support mainland enterprises in expanding overseas markets, promote high-quality economic growth in Hong Kong, and increase investment in the Northern Metropolis construction to meet diversified financial service needs, bringing new growth opportunities for the banking industry

WP CSI Banks ETF

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

E Fund CSI 300 Financials (ex Banks) ETF

Hwabao WP CSI Banks ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

ChinaAMC SSE Financials Sector ETF Initiating Fund

China Merchants CSI BANK AH Price ETF

ChinaAMC CSI Banks ETF

BOCOM INTL

Huaan CSI Banks ETF

Fullgoal CSI 800 Banks ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

BOC HONG KONG

China Southern CSI Banks ETF

Yinhua CSI All Share Investment Banking & Brokerage ETF

BOC Hong Kong: The budget proposal helps promote better financial services for the real economy and advantageous industries

01038

02513

The Hang Seng Index opened 254 points higher this morning, surpassing the 27,000 mark, reporting at 27,019 points. The three major U.S. stock indices continued to rebound on Wednesday, with the Dow Jones rising 307 points, the S&P 500 up 56 points, and the Nasdaq increasing by 288 points. NVIDIA announced record high revenue for the fourth quarter, causing stock price fluctuations. Li Ning's stock price surged by 5% at market opening, while AIA and HSBC rose by 3% and 2.9%, respectively. CKI HOLDINGS announced a major asset sale plan, with its stock price increasing by 1.4%. Goldman Sachs initiated coverage on MINIMAX with a neutral rating and a target price of HKD 1,018

Stheadline

CKI HOLDINGS

KNOWLEDGE ATLAS

The Hang Seng Index opened 254 points higher, rising above 27,000. Li Ning increased by 5%, while MINIMAX and KNOWLEDGE ATLAS rebounded | Hong Kong stock market opens

Hong Kong's finance chief unveiled a robust budget with a HK$2.9 billion surplus, marking a shift towards a more active government role in the economy. The government plans to dip into the Exchange Fund for infrastructure projects, including the Northern Metropolis megaproject. This budget reflects a departure from laissez-faire policies, aligning with national goals and increasing government investment in innovation. Analysts suggest these changes could benefit the city, despite concerns over rising debt levels and potential impacts on credit ratings.

- The Financial Secretary of Hong Kong revealed a surprisingly strong budget with a surplus, utilizing major funds for infrastructure initiatives.  
- A notable shift includes the rare use of the Foreign Exchange Fund for funding significant projects, aligning with national goals and increasing the government’s economic role.  
- The budget forecasts a projected surplus over the next five years, reflecting Hong Kong's regained position in global fundraising markets and enhanced investment in innovation-driven projects.

Budget reveal: government turns matchmaker with stronger hand in shaping economy

01299

00700

00005

On the settlement day of Hong Kong stock index futures, the Hang Seng Index opened higher, rising 254 points to 27,019 points. HSBC's stock price opened 2.9% higher after its earnings report, at HKD 146.8. Cheung Kong Infrastructure led a consortium to sell UKPN, with its stock price opening 1.4% higher. In the technology sector, Baidu opened 0.8% higher, and Tencent opened 1.2% higher. AI stock Zhipu opened 3.6% higher. BYD and other automotive stocks opened 0.4% to 0.9% higher

TENCENT

HSBC HOLDINGS

"Hong Kong Stocks" Hang Seng Index futures settlement day opened high at 254 points, HSBC continued to rise nearly 3%, AIA increased

09696

01772

002466

STECH

002460

TIANQI LITHIUM rose over 6%, Ganfeng Lithium rose over 5%

Wallstreetcn

TIANQI LITHIUM

GANFENGLITHIUM

Hang Seng TECH Index

Ganfeng Lithium

The Hang Seng Index opened up 0.95%, and the Hang Seng TECH Index rose 0.46%

$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!

XTALPI

LI AUTO-W

CSOP A50 ETF-R

CSOP A50 ETF

XI2CSOPHSTECH

ISHARESHSTECH

HSTECH ETF

XL2CSOPHSTECH

CSOP HS TECH

CAM HS TECH

Hang Seng TECH ETF I

GEELY AUTO

POP MART

BABA-W

Li Auto

TENCENT-R

Tencent HK SDR 10to1

Tencent

Tencent Holdings Limited

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

POP MART HK SDR 20to1

BABA-WR

Alibaba HK SDR 5to1

Alibaba

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)

XIAOMI-WR

XIAOMI-W

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)

Invesco QQQ Trust

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)

BI#HSI RC2809W(61570.HK)

The Hong Kong Stock Exchange's net profit last year rose 36% year-on-year to HKD 17.75 billion, exceeding expectations, with the second interim dividend increasing to HKD 6.52

Latest Hong Kong Interbank Offered Rate (HIBOR)

UBS's Deng Weishen: The government's first use of the foreign exchange fund for Beijing's infrastructure will help diversify and optimize the investment portfolio, reducing the need for further borrowing

S&P: The improvement in Hong Kong's public finances is sufficient to support the massive infrastructure plan

Hong Kong 2026-27 budget: ‘Symphony of Lights’ to go dark under tourism revamp