Global equity markets mostly moved lower on Monday after US President Donald Trump reignited trade tensions, while US stock and bond markets remained closed in observance of Martin Luther King Jr. Day.
The holiday marked the first full US market closure since New Year’s Day. Following the MLK Day break, US financial markets will operate continuously until mid-February, with the next closure scheduled for Monday, February 16, in observance of Presidents’ Day.
Looking ahead to 2026, US markets will observe several major holidays, including Presidents’ Day (February 16), Good Friday (April 3), Memorial Day (May 25), Juneteenth (June 19), Independence Day (July 3), Labor Day (September 7), Thanksgiving (November 26, with an early close on November 25), and Christmas Day (December 25, with an early close on December 24).
Hong Kong Stocks
Hong Kong’s major indices declined across the board by midday. Tech stocks were mixed, with Tencent, Xiaomi, and Baidu down over 1%, while NetEase and Bilibili gained more than 1%.
Property stocks strengthened, led by Greentown China, which rose over 5%. New consumption-related stocks were active, with Shanghai Auntie surging more than 10%. Meanwhile, commercial aerospace stocks weakened, and biopharmaceutical shares extended their pullback.
D Prime Insight:
Property stocks outperformed after official data showed that in December 2025, new home prices in China’s first-tier cities fell 0.3% month-on-month, with the pace of decline narrowing. Shanghai recorded a 0.2% increase. Analysts at Shenwan Hongyuan noted that China’s property sector has undergone a deep correction, and recent policy signals emphasizing market stabilization could support future recovery. Valuations across the sector remain near historic lows, improving long-term appeal.
New consumption stocks also stood out. Shanghai Auntie forecast full-year 2025 net profit of RMB 495–525 million, representing growth of 50%–60%. Meanwhile, Pop Mart conducted its first share buyback in nearly two years, repurchasing 1.4 million shares for more than HKD 250 million.
D Prime Hong Kong Market Snapshot:
- Hang Seng Index: -0.04% to 26,552.57
- Hang Seng Tech Index: -0.66% to 5,712.19
- China Enterprises Index: -0.12% to 9,123.18
A50
China’s A-share markets opened sharply lower. By midday, the Shanghai Composite, Shenzhen Component, and ChiNext Index were all under pressure, with market breadth notably weak.
D Prime Insight:
Sector-wise, chemicals, media, real estate, insurance, banks, airports, retail, and semiconductors posted gains, while commercial aerospace, CPO, controlled nuclear fusion, battery metals, and defense stocks lagged.
D Prime A-Share Market Snapshot:
- Shanghai Composite: -0.30% to 4,101.62
- Shenzhen Component: -1.22% to 14,119.95
- ChiNext Index: -1.83% to 3,276.64
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