Market Updates
China Indexes Hover at Multi-Year Highs as Domestic and Foreign Investors Chase Returns
Li Chen
19 Aug, 2025
Hong Kong
Benchmark indexes in China and Hong Kong advanced and extended recent gains to multi-year highs as investors increased allocation to riskier assets and chased returns.
The Hang Seng index gained 0.2% and advanced this year's gain to 28.6%, and the CSI 300 index increased 0.1% and extended 2025's rise to 11.1%.
Steady flows from state-controlled domestic institutions were compounded by rising flows from foreign investors and individual investors.
Individual investors have been increasing their stock allocation amid low returns in fixed-income investments and persistent weakness in the property market.
The liquidity-driven rally is also supported by the belief that China's GDP will meet the government target of 5% and the broader economy will sustain its momentum because the rising exports to the Global South will offset the faltering shipments to the U.S.
China Indexes and Stocks
The Hang Seng index added 0.2% to 25,224.97, and the CSI index advanced 0.1% to 4,244.97.
Telecom and consumer stocks led gainers in Shanghai and Shenzhen trading.
Nongfu Spring Co. Ltd edged up 0.9% to HK $46.82, China Foods Ltd. increased 0.2% to HK $3.35, and Mixue Group fell 0.8% to HK $451.40.
China Unicom Hong Kong decreased 0.6% to HK $10.18, China Mobile Ltd. declined 0.7% to HK $88.35, and China Telecom Corp. fell 2% to HK $6.27.
Annual Returns
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Earnings
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