Hang Seng ends higher but tech slips: HSBC hits a new high as Tencent drags Hong Kong stocks
The Hang Seng Index closed up 0.2% at 26,834 on Tuesday, lifted by bank stocks as tech shares fell. HSBC gained 3.1% while Tencent dropped 2.9%. Retail sales in Hong Kong rose 6.6% in December to $35.0 billion, with online sales up 30.9%. China will raise its VAT on telecom services to 9% in 2026, prompting concerns from major telecom firms.