The Hang Seng slipped 224 points, or 0.9%, to close early at 25,630 on the final trading day of 2025, as markets closed early ahead of the New Year. The index reversed the prior session’s strength as losses spread across all sectors, with tech, consumer, and financial stocks leading the declines. Still, the index posted a second straight annual gain, climbing nearly 28% in 2025. The rally was boosted by a buoyant IPO market in Hong Kong, easing U.S.–China trade tensions, and Beijing’s pledge to support economic growth through proactive fiscal spending and accommodative monetary policy. China Hongqiao Group emerged as the index’s top performer, surging 179% this year amid strong demand for aluminium, lifting its ten-year gain to over 653%. SMIC jumped 117% over the year as the AI boom accelerated, extending its decade-long rise to more than 800%. Meanwhile, Pop Mart Intl. climbed 118%, supported by the continued popularity of its Labubu products. Trading will resume on January 2.
