JP#HSI RC2811U

HSI Futures Evening Session Closes Down 0.54% at 26,465

CITIC Securities Hang Seng Index Bull and Bear Warrant Street Position Ratio and Changes

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

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INVESCO QQQ

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The upcoming week will see the release of inflation data from the Philippines, Thailand, Taiwan, and retail sales data from Hong Kong. In the Philippines, inflation is expected to rise due to higher rice prices, influencing the central bank's rate decisions. Thailand anticipates a 0.49% decline in consumer prices, attributed to lower fuel and pork prices. Taiwan's inflation is projected to increase temporarily, while Hong Kong's economy shows signs of recovery with a GDP growth forecast of 2.5%-3.5% for the year.

MorningStar

Hang Seng Index

Week Ahead for FX, Bonds: U.S. Jobs Data in Focus -2-

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Among them, there are no reverse repos maturing on Monday, with maturities of 526 billion yuan, 409.5 billion yuan, 320.5 billion yuan, and 269 billion yuan from Tuesday to Friday, all for a seven-day term. In addition, on Friday (March 6), there is also a 1 trillion yuan 91-day term reverse repo maturing

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This week, a total of 1.525 trillion yuan in reverse repos will mature in the open market of the People's Bank of China

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Financial Secretary Paul Chan stated that there are no plans for Hong Kong to transfer funds from the Exchange Fund again in the next five years, emphasizing that this move will not become the norm. He pointed out that the Exchange Fund is large, and this transfer will not affect financial stability or the peg between the Hong Kong dollar and the US dollar. The government will consider issuing more long-term bonds to match investments in the Northern Metropolis, and although the ratio of policy debt to GDP will rise to about 19.9%, it remains at a relatively low level within international standards

AASTOCKS

TRACKER FUND

CSOP HSI ETF

ISHARESHSI

Chen Maobo: Hong Kong has no plans to transfer funds from the Exchange Fund again within five years

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Hong Kong plans to host new fairs on robotics, yachts, and small jets to enhance its status as an international exhibition hub and attract affluent visitors. Commerce Secretary Algernon Yau announced a HK$100 million budget to attract large international exhibitions. The government is collaborating with global organizers to introduce events that have never been held in the city. The exhibitions industry contributes 2.1% to Hong Kong's GDP, with each event generating significant daily spending from attendees. Expansion of key exhibition venues is also planned to accommodate larger events.

南华早报

FL2 CSOP HSI

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Robots, jets and yachts: Hong Kong aims for new fairs to woo big spenders

Hong Kong's Financial Secretary, Paul Chan, warns of significant global financial uncertainty due to ongoing conflicts, despite limited direct trade with Iran. He anticipates market volatility and capital flow shifts, prompting the government to manage financial risks with contingency plans. A budget proposal allocates HKD 150 billion from the Exchange Fund for infrastructure projects in the Northern Metropolis, which is crucial for future economic growth. Chan emphasizes a balanced resource allocation across sectors and the importance of considering economic conditions for support measures.

CoinLive

Hong Kong Prepares for Financial Uncertainty Amid Global Tensions

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Hong Kong's small landlords are adapting to competition by converting office spaces into co-working areas and student hostels. With a significant increase in premium office space, older buildings face challenges as tenants prefer modern facilities. Analysts note a shift towards co-working, with a projected 1.7 million sq ft leased by 2025. The student housing sector is also expanding due to a current deficit of 88,000 beds. Despite a slight increase in leasing activity, overall office rents fell by 2.9% year-on-year, with premium offices expected to outperform the market.

iShares US Real Estate ETF

Vanguard Real Estate ETF

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Real Est Select Spdr

Hong Kong’s small landlords turn to co-working, student hostels to survive

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The new Basic Housing Units Ordinance in Hong Kong is leading to evictions of tenants in subdivided flats, as landlords must comply with new minimum standards. Many residents, like 72-year-old Chan Sai-chiu, face displacement due to renovation plans. Advocates are calling for stable temporary housing solutions for the 220,000 residents affected. The law aims to improve living conditions, but low-income tenants may struggle to afford compliant housing, potentially leading to further instability in their living situations. The government is exploring options for transitional housing to assist those impacted by the changes.

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ChinaAMC Hang Seng ETF

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Are new Hong Kong subdivided flat standards triggering a wave of evictions?

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Fidelity International and other global investors are returning to Hong Kong's IPO market, signaling a shift in sentiment. After a quiet period, Fidelity backed several major listings, including Zijin Gold International and HashKey Group. This resurgence is attributed to improving sentiment towards consumption, clearer policies in technology, and confidence in Chinese companies' competitiveness. The Hong Kong market has seen strong gains, with foreign capital making up 27% of cornerstone investors in top IPOs. The profile of these investors has shifted, with more global funds participating in recent deals, reflecting a recalibration of risk appetite.

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ZIJIN MINING

HASHKEY HLDGS

The big cornerstone comeback: what’s driving investors back to Hong Kong IPOs?

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In Beijing, on February 28, 2026, a report on the Chinese economy indicates that the year 2026 signifies the commencement of China's 15th Five-Year Plan spanning from 2026 to 2030. In order to ensure a robust and steady initiation, China is depending on robust internal growth factors, along with other strategies to bolster its economy.

Unusual Whales

CSI 300

China's economy gears up for 15th Five-Year Plan period (2026-2030) with strong domestic growth drivers.

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Zhang Yidong, Chief Economist at Haitong International Securities, stated in The Paper that the global market will face complex changes in 2026, particularly due to the uncertainties brought by AI technology. He believes that the Hong Kong stock market is currently not suitable for aggressive buying and suggests focusing on the recovery of the Chinese economy, prioritizing investments in hard assets. Regarding A-shares, Zhang Yidong is optimistic about their trend, believing they will steadily rise in the future with reduced volatility

- In a recent interview, chief economist Zhang Yidong shared insights on stock markets in 2026, highlighting a shift in narratives from growth to value, amid rising concerns about AI's long-term uncertainties.  
- A-shares are expected to exhibit a stable upward trend driven by improving fundamentals, while U.S. markets may face structural challenges and weaker returns compared to emerging markets.  
- The Hong Kong market is viewed as a consumer sector facing temporary challenges but is anticipated to benefit from China's economic recovery, with earnings projected to grow by 12% to 15%.

Guotai CSI All Share Investment Banking & Brokerage ETF

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Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

China Universal CSI 300 Index Initiating Fund(LOF)-C

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

China Southern Hang Seng ETF

Yinhua CSI 300 Index Fund(LOF)-A

Harvest SZSE SME-ChiNext Composite 300 ETF

ISHARESHSTECH

Tianhong Hang Seng TECH ETF(QDII)

E Fund CSI 300 Financials (ex Banks) ETF

Zheshang CSI 300 Enhanced Index Fund(LOF)-A

Hang Seng TECH Index

Huatai-PB CSI 300 ETF

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Yinhua CSI All Share Investment Banking & Brokerage ETF

Zhang Yidong: Hold on with Hengke for now, it's not the time to actively buy. First buy hard assets in Hong Kong stocks, then buy consumer goods

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Hong Kong's Financial Secretary Paul Chan announced that no further transfers from the Exchange Fund are planned in the next five years, following a controversial HK$150 billion withdrawal to support infrastructure projects. Chan emphasized that this transfer is not a regular practice and reassured that the fund's stability remains intact. He also revealed a shift towards longer-term bond issuance to align with infrastructure financing. Experts caution that reliance on reserves could undermine financial discipline, highlighting the need for institutional safeguards to prevent excessive future withdrawals.

HSTECH ETF

No repeat of Exchange Fund transfer planned in next 5 years, Paul Chan says

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The Hang Seng Index main futures closed down 0.54% in the overnight session, at 26,465 points. The Hang Seng TECH Index main futures closed down 0.68% in the overnight session, at 5,106 points

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Hong Kong plans to offer nine residential sites to developers in the 2026-27 land sale program, aiming to provide approximately 6,650 flats. This initiative follows a stabilization in the property market, with potential new flat supply reaching an eight-year high of about 22,580. Key locations include Stanley, Hung Shui Kiu, and Tung Chung, with a significant focus on the Northern Metropolis megaproject, which aims to transform land into a housing and economic hub. The government anticipates generating HK$18 billion in land premiums for the upcoming financial year.

Hong Kong to offer 9 residential sites to developers in 2026-27 land sale plan

HSCEI

This week, discussions have centered around the perceived unfairness of the graduate tax and the stock market's transition from a YOLO (You Only Live Once) to a HALO (High Asset, Low Opportunity) mindset. Bloomberg posted on X, highlighting the continued attractiveness of Asian stocks in this evolving market landscape. The focus remains on understanding these shifts and their implications for investors.

Hang Seng China Enterprises Index

CSOP NIKKEI225

Asian Stocks Maintain Appeal Amid Market Shifts

Hong Kong's exports surged by 33.8% in January 2026, reaching HK$520.6 billion, driven by a rebound from last year's low base amid easing US-China trade war fears. Imports also rose by 38.1% to HK$534.7 billion. A government spokesman noted that while the low base contributed to the rise, underlying growth remains strong. The trade deficit was HK$14.1 billion. Future trade performance is expected to benefit from global economic expansion and demand for AI-related products.

- Concerns over the U.S.-China trade war have eased, leading to a 33.8% year-on-year increase in Hong Kong's exports in January 2026, totaling HK$ 520.6 billion (US$ 66.6 billion).  
- The surge in exports is attributed to improved market conditions and strong demand for AI-related electronic products, despite last year's low base due to the Chinese New Year.  
- A trade deficit of HK$ 14.1 billion was recorded in January, representing 2.6% of total imports, with expectations for continued growth bolstered by global economic expansion and new market relations.

Hong Kong exports surge 33.8% in January thanks to rebound from 2025’s low base

$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

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CSOP A50 ETF-R

CSOP A50 ETF

XI2CSOPHSTECH

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Hang Seng TECH ETF I

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POP MART

Li Auto

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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

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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)

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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)

JP#HSI RC2811U(64278.HK)

Week Ahead for FX, Bonds: U.S. Jobs Data in Focus -2-

This week, a total of 1.525 trillion yuan in reverse repos will mature in the open market of the People's Bank of China

Chen Maobo: Hong Kong has no plans to transfer funds from the Exchange Fund again within five years

Robots, jets and yachts: Hong Kong aims for new fairs to woo big spenders

Hong Kong Prepares for Financial Uncertainty Amid Global Tensions