HONG KONG, April 16, 2026, 18:24 HKT
Hong Kong’s Hang Seng Index surged 1.72% to wrap up Thursday at 26,394.26, fueled by a rush into tech and battery names after China’s first-quarter growth numbers topped forecasts. Tech stocks popped: the Hang Seng Tech index rallied 3.67%, while Alibaba climbed 5.6%, Tencent rose 3.6%, Baidu rocketed 7.7%, and Meituan added 2.8%.
This move lands at a time when Hong Kong is already riding a solid quarter for both trading and fundraising. According to its March market highlights, HKEX reported average daily turnover jumped 14% year-on-year in the first three months of 2026. IPO activity stood out—initial public offerings brought in HK$109.9 billion, marking a staggering 488% surge.
Stocks rallied Thursday, after optimism around U.S.-Iran diplomacy nudged investors toward risk. Japan’s Nikkei surged 2.38%, according to Reuters market data, with Shanghai’s main index up 0.70%. Meanwhile, TSMC posted a 58% leap in quarterly profit and raised its revenue outlook, sparking fresh interest in Asia’s AI-linked tech shares.
Hong Kong saw gains reach past the internet names. CATL surged 9% after reporting a 48.5% jump in first-quarter net profit, topping forecasts, according to a filing. Xiaomi advanced 3.8%, and BYD tacked on 5.5%.
New listings shifted the mood. Shares of Sigenergy, which makes energy-storage systems, closed up 103.4% from their IPO price after hauling in HK$4.4 billion. By turnover, it ranked as the fourth most heavily traded stock on the Hong Kong exchange.
Deal flow hasn’t slowed yet. AI circuit board producer Victory Giant is reportedly set to price its HK$17.5 billion Hong Kong listing right at the top end, Reuters said, as Huaqin Technology lines up a possible HK$4.55 billion deal. According to Kenny Ng at China Everbright Securities International, investors are likely to flock to the Hong Kong shares, attracted by a steeper discount compared with Victory Giant’s Shenzhen shares.
China’s GDP numbers set things off. Growth for the first quarter landed at 5.0% year-over-year, beating the Reuters poll estimate of 4.8%. Retail sales for March, though, only managed a 1.7% rise, while fixed-asset investment came up short of forecasts.
Junyu Tan, North Asia economist at Coface, called the strong opening a sign the direct fallout from the Middle East conflict is “contained for now.” But Zhennan Li at Pictet Wealth Management struck a more cautious note. The senior Asia economist flagged that growth in the second quarter might lose steam, pointing to a government-driven “stop-go pattern.” Reuters
The rally hasn’t broken out either. Oil held at about $95 a barrel, with economists warning that drawn-out conflict could leave exporters caught between rising input costs and sluggish demand abroad, while domestic consumption remains tepid. Investors are keeping an eye out for any “second-round effects,” according to Standard Chartered’s Manpreet Gill. Reuters
At the moment, Hong Kong is ahead of Shanghai’s 0.70% gain, but still behind Tokyo’s bigger leap—pointing to a mix of China-focused hope and general risk-taking. Up next: Victory Giant kicks off trading on April 21, while Huaqin’s launch is slated for April 23.
