Steady International Flows Power Seven-Day Rally In China Stocks

Li Chen
29 Jan, 2026
Hong Kong

Stocks in mainland China and Hong Kong advanced amid earnings optimism and sustained flows to emerging markets. 

The Hang Seng Index increased 0.5%, and the mainland-focused CSI 300 index jumped nearly 1% as the Sell America trade continued to direct funds to emerging economies of Asia and Europe. 

Oil explorers advanced on reports that the U.S. is preparing to conduct additional air strikes in Iran, which could disrupt global crude oil flows. 

The U.S. president said that the U.S. naval forces in the region are ready to "act with speed and violence, if necessary," adding to fears that Iran's retaliation could disrupt oil flows through the Strait of Hormuz, responsible for roughly one third of global supply.

Gold jumped 3% to $5,585 an ounce, and silver advanced 2.5% to $119.50 amid a surge in buying after the U.S. Federal Reserve held the benchmark interest rate range between 3.5% and 3.75%. 

The central bank signaled that the U.S. economy is holding up and rates "are sufficiently restrictive" in post-decision comments while talking to reporters. 

The U.S. Federal Reserve lowered rates three times in 2025, and traders are anticipating at least two additional rate cuts totaling 50 basis points in 2026. 

 

China Indexes and Stocks 

The Hang Seng Index increased 0.5% to 27,963.29, and the mainland-focused CSI 300 Index advanced 0.9% to 4,762.26. 

Zijin Gold International decreased 2.6% to HK $242.60, Zijin Mining Group advanced 2.6% to HK $45.82, CNOOC Ltd. gained 2.7% to HK $25.32, and PetroChina increased 2.6% to HK $9.50. 

Longfor Group Holdings jumped 4.4% to HK $10.32, China Vanke Company soared 7.3% to HK $4.01, and China Resources Land increased 3.8% to HK $30.94.