Hong Kong equities advanced 89 points, or 0.3%, to 27,067 on Thursday, extending its winning streak to five sessions, led by property and financials. Sentiment remained lifted by China’s record 2025 trade surplus, with December exports topping USD 100 billion as shipments to non-US markets offset Trump-era tariff risks. Gains were capped, however, by Wall Street’s second day of drops overnight, as earnings and geopolitical risks weighed on tech and banks. In China, regulators plan to lift the minimum margin requirement for new borrowings to 100% from 80%, effective January 19, to cool a surging stock market even as turnover hit record highs. Investors now await Chinese credit lending data later today, followed by Q4 GDP, December activity figures, and loan prime rate fixes next week. S.F. Holding surged (3.2%) after agreeing to buy an 8.5% stake in J&T Global (2.2%) for HKD 8.3 billion. Other standouts included ZTO Express (4.8%), KE Holdings (2.8%), and China Resources Land (1.9%).
