Hang Seng Tests 26,000, Continue Climbing or Falling Back?
The Hong Kong stock market opened cautiously on Friday, November 28, 2025, with the Hang Seng Index trading slightly between 25,990 and 26,000, having closed at 25,945.93 on Thursday.
Opening sentiment was still influenced by the slowdown in the global rally over the weekend, after world stock markets had rallied strongly in recent days and began to lose steam. In Asia, other stock indices also tended to move mixed, while the absence of major catalysts from Wall Street—which was closed for Thanksgiving—left the Hang Seng's direction at the start of the session largely dictated by regional factors and local sentiment.
Fundamentally, market players in Hong Kong are still weighing two sides: on the one hand, hopes for a Fed rate cut continue to support risk appetite, but on the other hand, concerns about China's growth prospects and the Hang Seng's increasingly high valuations after a nearly 3% rally in the previous two sessions limit room for further upside.
The technology and property sectors have the potential to determine the index's direction throughout the day, while investors are likely to adopt a "wait-and-see" stance near the psychological level of 26,000. If it breaks through with sufficient volume, the upward trend remains open. However, if it fails to hold, the market could revert to a short-term consolidation phase.
Source: Newsmaker.id
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