Hong Kong Indexes Advanced, GigaDevice Soared 40% On Trading Debut

Li Chen
13 Jan, 2026
Hong Kong

China stocks edged higher, driven by a rebound in purchases by foreign investors. 

The Hang Seng Index increased 1%, and the mainland-focused CSI 300 index edged up 0.02%. 

Markets in Asia overlooked rising geopolitical tensions after the U.S. imposed additional 25% duties on countries doing business with Iran. 

Russia, China, India, Turkey, and the UAE are leading trade partners of Iran. However, it is not clear what products will attract the newly announced U.S. tariffs.

Despite the Trump administration's rollback of 25% tariffs on Chinese goods, the average tariffs hovered near 45% on Chinese goods shipments to the U.S.  

The U.S. Supreme Court is expected to rule on the legality of the Trump administration's tariffs, and many legal experts anticipate the nation's highest court to deem the tariffs as illegal and needing an approval from the U.S. Congress.

The Chinese yuan strengthened to a three-year high of 6.97 against the U.S. dollar amid growing speculation that the U.S. could conduct additional military strikes in Iran.

 

China Indexes and Stocks 

The Hang Seng Index increased 1% to 26,873.70, and the mainland-focused CSI 300 index added 0.02% to 4,790.96. 

GigaDevice Semiconductor increased more than 40% to HK $223.80, and the advanced chip designer priced its initial public offering at HK $162.0 per share. 

The maker of analog and sensor chips raised HK $4.7 billion in gross proceeds through the sale of 28.9 million shares. 

Hongxing ColdChain edged up 5% to HK $12.80, and the frozen food warehouse company priced its initial public offering at HK $12.26 per share. 

The company raised HK $285.20 million in gross proceeds through the sale of 23.26 million shares.