Bright Smart Securities: It is expected that Hong Kong's IPO fundraising will continue to lead the world in 2026, and the Hang Seng Index is expected to surpass 30,000 points within the year.

Philip Yu, Executive Director and CEO of Bright Smart Securities (01428), stated that in 2025, the Hong Kong stock market achieved excellent results, with daily trading volume increasing by 90% year-on-year, reaching a historic high. The amount raised by new listings also returned to the top of the global rankings, 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, achieving remarkable performance. The AI trend will continue to be the focus of the market in 2026, and it is believed that more AI and technology-related stocks will continue to be listed in Hong Kong throughout the year, with new listings expected to maintain their position as the global leader in fundraising. Raymond Chik, Director of the Research Department of Bright Smart Securities, stated that the global financial markets, particularly in mainland China and Hong Kong, have had a good start this year. Despite the continued uncertainty caused by the policies of US President Donald Trump, with the anticipation of the "15th Five-Year Plan" in mainland China and the accelerated development of AI, it is expected that the stock markets in mainland China and Hong Kong will continue to outperform and the Hang Seng Index is expected to surpass the 30,000 point mark before the end of the year. In terms of sectors, in addition to AI-related sectors, there is optimism for materials and resources, power equipment, and high-yield stocks. Edmund Wong, Senior Vice President of Market Development at HKEX, stated that the Hong Kong new listing market has remained strong this year, driving the continuous expansion of industry coverage in the local market. There are more diverse choices in the stock market, providing a richer variety of investment options for options, ETFs, and structured products. The product ecosystem in Hong Kong continues to expand, with Wong mentioning the launch of six new stock options on January 19, covering sectors such as biotechnology and gold. The new products have received positive market feedback and have seen active trading. Furthermore, in 2025, the ETF market in Hong Kong reached new highs in terms of trading volume and new product issuance, while the trading volume of structured products increased by over 50% year-on-year, reflecting an increase in individual investor participation. Sylvia Choi, Director of Listing Product Sales at Societe Generale, stated that there was a sharp increase in the total turnover of warrant products last year, with investors using the leverage of warrants to capture market volatility and enhance their deployment of US stock warrants. The company has further expanded the coverage of US stock-related assets, adding warrants for Broadcom Inc. (AVGO.US) and Netflix (NFLX.US) to meet investors' trading needs beyond the "Tech Big Seven" in the US stock market.