Hong Kong — January 5, 2026 — 2:08 AM ET
- Hang Seng Index -0.08% at the midday break; Hang Seng Tech -0.18%; HSCEI -0.19%. Futu News
- PetroChina -4.34% and CNOOC -3.48% as crude cooled; Brent sat near $60.49 (-0.4%). Futu News
- MiniMax targets top-of-range pricing (Jan. 6) and a Jan. 9 debut, aiming to raise up to HK$4.19B ($538M). Reuters
Hong Kong stocks slipped.
The Hang Seng Index dipped 0.08% by the midday break and traded at 26,302 in the afternoon, while the Hang Seng Tech Index fell 0.18% and the HSCEI lost 0.19%. Futu News
Breadth looked messy.
Futu counted 1,099 gainers, 1,004 decliners, and 1,141 unchanged at midday, and that split shows traders ran stock-to-stock instead of buying the whole board. Futu News
Energy dragged hard.
PetroChina sank 4.34% and CNOOC dropped 3.48%, tracking a softer crude tape after Brent slipped 0.4% to $60.49 as markets digested Venezuela headlines. Futu News
Tech still found buyers.
Kuaishou jumped 9.66% and Bilibili rose 5.56%, while Alibaba added 2.28% and Tencent edged 0.08% higher as Xiaomi slid 2.53% and Baidu lost 1.04%. Futu News
Biotech lit up.
Duality Bio-B climbed 11.00% and Kelun Biotech-B gained 7.84%, keeping the bid under the healthcare complex even as the index drifted. Futu News
Autos took the hit.
Nio fell 5.66%, XPeng dropped 4.54%, and Geely slid 3.02% by midday as traders kept leaning on EV and consumer-exposed names. Futu News
Property shorts blinked.
Shimao rallied over 9% and Ronshine rose over 8% as policy messaging pushed the group higher and forced cover bids. Futu News
The IPO calendar matters.
Investors oversubscribed MiniMax’s HKEX deal books multiple times, and the company targets the top end of its HK$151–HK$165 range ahead of pricing on Jan. 6, Reuters reported. Reuters
Here’s the problem.
Draft China cybersecurity rules target AI services that mimic human personalities, and that regulatory risk sits right on top of the same pipeline investors are paying up for. Reuters
Next catalyst: Jan. 6 pricing.
MiniMax lines up a Jan. 9 trading debut and aims to raise up to HK$4.19 billion ($538 million), putting fresh supply directly in front of a choppy Hang Seng tape. Reuters
