Speaking in a market-opening ceremony, he said the Hang Seng Index had risen by 32 percent in 2025, making it the best-ever Year of the Snake in history, both in terms of gains in points and percentage.
Chan said he held high expectations for the year ahead as three out of the past four Years of the Horse had seen double-digit percentage rises for the benchmark.
“Like a fine horse, our market will continue its resilience and vigour despite all the external challenges,” he said.
“We will continue to accelerate reforms to support innovative and high-growth companies, as well as overseas companies, to list in Hong Kong.
“With strong support from our country and close collaboration across the government regulator and the industry, I am confident that Hong Kong’s capital market will continue to advance with strength and vitality,” he added.
Chan also pointed to accelerating technological advancements in fields such as artificial intelligence, life sciences and even quantum computing that are reshaping the competitiveness of economies as well as the valuations of stocks.
He said Hong Kong would press ahead with more market reforms, such as a review of the “Weighted Voting Rights” framework, to attract more tech firms to list in the SAR.
Carlson Tong, chairman of the Hong Kong Exchanges and Clearing (HKEX), said the stock market had seen a “very encouraging start” to 2026, with over 24 initial public offerings raising over HK$87 billion and another 488 firms waiting to go public.
Average daily trading turnover, he added, had also continued to rise since January, with several sessions exceeding HK$300 billion.
“Looking ahead, we will continue to press forward with key market reforms, including enhancements to the listing regime, consultation on the ‘T+1’ settlement, and further improvement to market efficiency, while maintaining a strong focus on market quality and resilience,” Tong said.
“These efforts will contribute to Hong Kong’s long-term and sustainable development as a leading international financial market.”
Their comments came as the city’s stock market opened lower on Friday, led by declines in tech heavyweights, as ongoing tensions between the United States and Iran affected sentiment.
Also speaking at the event was HKEX chief executive Bonnie Chan, who noted that the IPO funds raised since January were equivalent to 25 percent of last year’s total, indicating “strong momentum”.
She also said 10 of the 488 firms waiting to go public were international companies and that the HKEX would continue to optimise its regime to better facilitate listings for global companies.
Edited by Aaron Tam
