Hang Seng Rises 1.6%, Alibaba Leads Hong Kong Stock Rally
The Hang Seng Index rose for the second straight day, gaining 1.6%, or 412.5 points, to 26,626.28 on Thursday (May 7) in Hong Kong. This increase was the largest since a 1.7% surge on April 29, with gains relatively evenly distributed across the market.
Alibaba Group Holding was the largest contributor, rising 5.0%, while Techtronic Industries recorded the highest surge among its constituents, rising 10.3%. Of the 90 stocks, 79 closed higher and 11 fell; all sectors were in the green, led by the commerce & industrial group.
On a weekly basis, the index has risen 3.3% and is headed for its biggest gain since the week ended October 24. In the past 52 weeks, the Hang Seng has gained 17% and is currently 5.1% below its 52-week high of January 29, 2026, and 17.9% above its 52-week low of May 8, 2025. In the near term, the index has gained 2% in five days and gained 6% in 30 days.
In terms of valuation and risk, the Hang Seng is trading at a trailing P/E of 13.6 and approximately 11.7 times estimated 12-month forward earnings, with a trailing 12-month dividend yield of 2.9%. The total market capitalization of index members reached HK$30.9 trillion, while 30-day volatility fell to 20.44% from 23.16% in the previous session, lower than the average for the past month of 24.07%—signaling a subsidence of short-term fluctuations as the rally continues. (asd)
Source: Newsmaker.id
