To The Moon

Bright Smart Securities (01428) Executive Director and CEO Xu Yibin stated that the Hong Kong stock market achieved outstanding results in 2025, with the average daily turnover surging 90% year-on-year to a record high. The funds raised from new listings also returned to the top spot globally, reaching HK$285.8 billion. In the fourth quarter alone, 11 stocks saw their share prices more than double on their first day of trading, marking a remarkable achievement. The AI boom is expected to remain a key market focus in 2026, and it is believed that more AI and technology-related stocks will successively list in Hong Kong during the year; new listings are anticipated to continue holding the top position globally in terms of fundraising. Bright Smart Securities Research Director Zhi Yaohui noted that global financial markets, especially those in mainland China and Hong Kong, have had a solid start to the year; although the policies of US President Trump will continue to be the biggest source of global political and economic uncertainty, the anticipation surrounding mainland China's "15th Five-Year Plan" and the premise of accelerated AI development are expected to allow mainland and Hong Kong markets to still "outperform," with the Hang Seng Index likely to reclaim the 30,000-point level within the year. Regarding sectors, besides AI-related sectors, he is also optimistic about raw materials and resources, power equipment, and high-dividend concept stocks. Hong Kong Exchanges and Clearing Market Division Customer Business Development Senior Vice President Huang Jien indicated that the strong performance of Hong Kong's new listing market this year has driven an expansion in the industry coverage of the local Hong Kong market. The increased diversity of choices in the stock market has also provided richer investment targets for options, ETFs, and structured products. Hong Kong's product ecosystem is also continuously expanding; Huang Jien pointed out that HKEX launched six new stock options on January 19, covering sectors such as biotechnology and gold. The new products received a positive market response upon launch, with trading being quite active. Furthermore, Hong Kong's ETF market set new records in both trading volume and the number of new product issuances in 2025, while the turnover of structured products last year also increased by over 50% year-on-year, possibly reflecting increased participation from individual investors. SocGen Securities Listed Product Sales Department Director Cai Xiuhong said that the total turnover of warrants and callable bull/bear contracts surged last year, with investors utilizing the characteristics of these instruments to capture opportunities in volatile markets and increasing their deployment of US stock warrants. The bank further expanded its coverage of US stock-related assets, adding warrants on Broadcom (AVGO.US) and Netflix (NFLX.US) to meet investor demand for trading beyond the US "Magnificent Seven" tech stocks.