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12:38 PM ยท 2 January 2026

Euphoria hits the Hong Kong stock market ๐Ÿ“ˆ CHN.cash surges 3%

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Futures on the Chinese equity index listed in Hong Kong are up more than 3% today, returning to the 9,150-point area after bouncing off the EMA200 and moving back above the EMA50 (orange line). At the start of the year, emerging markets (EM) – led by China – are performing strongly, supported by expectations of a weaker US dollar index and a broader trend toward diversification away from “expensive” Wall Street equities.

Shares of China’s Baidu jumped more than 9%, while the company’s chip unit (Biren) debuted on the Shanghai exchange, surging by around 400% on its first day of trading. Investors are now watching whether the upcoming listing of Kunluxin can replicate that success. A broad benchmark of Chinese tech stocks gained more than 4%, led by Chinese Big Tech names such as Alibaba, Baidu, JD.com, Xiaomi, and Bilibili.

CHN.cash (D1 timeframe)

Looking at the Hang Seng futures chart (CHN.cash), we can see a strong return to the broader uptrend. However, the current level may still act as a significant resistance zone, given the upper boundary of the descending channel and the EMA50 (orange line) on the daily timeframe.

  • Support: around 8,850 points (previous price reactions, EMA200)

  • Resistance: 9,150–9,200 points

A breakout above this range could potentially open the door for a move toward 10,000 points in the first half of 2026.

Source: xStation5

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