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Hang Seng · Hong Kong^HSI
Hong Kong's benchmark — where mainland China's corporate giants trade in a US-dollar-pegged market.
Past week: -3.84%
30-day price
Where the chart sits — description, not prediction
Trading below both its 50-day (25,585.23) and 200-day (25,983.57) averages — the longer-term trend reads as down. 30-day range 23,768.52–26,406.84; currently in the lower third of that range. RSI(14) 30 — momentum weak.
Computed from daily closing prices (Yahoo Finance), June 23, 2026. Compare all markets →
What is Hang Seng · Hong Kong?
The Hang Seng Index (HSI) tracks the largest, most liquid stocks on the Hong Kong exchange. Created in 1964 and first published on 24 November 1969 with a base of 100, it is run by Hang Seng Indexes Company and now holds about 80-plus constituents, free-float weighted with an 8% single-stock cap.
Financials are roughly a third of the index and technology (Tencent, Alibaba, Meituan) is much of the rest, so for US investors the HSI is the main window into China's biggest internet, financial and property companies — many listed in Hong Kong rather than on the mainland. Hong Kong trades ~9:30 PM-4:00 AM ET, closing hours before Wall Street; a falling Hang Seng on China news often weighs on US futures before the open.
What has moved Hang Seng · Hong Kong
1997-98 Asian crisis: -55% to a 1998 low near 7,275
The 1997 Asian currency contagion drove the HSI from about 16,366 in mid-1997 to roughly 7,275 by August 1998 (-55%). Hong Kong's government controversially bought HK$118 billion of constituent stocks to defend its dollar peg and stabilise the market.
2021 tech crackdown: ~US$1.5tn of value erased
From late 2020 Beijing's regulatory offensive — an Alibaba fine, the halted Ant IPO, gaming and tutoring curbs — wiped roughly US$1.5 trillion from Chinese tech stocks, hammering Tencent, Alibaba and Meituan across the index.
13-year low near 14,687, October 2022
By October 2022 the HSI had fallen about 50% from its 2021 peak to a 13-year low, as the tech crackdown, zero-COVID, a property crisis (Evergrande) and rising US rates combined; the final leg came right after Xi Jinping secured a third term.
Sept-Oct 2024 stimulus whipsaw: +27% then -10% in a day
After a sweeping PBOC stimulus package on 24 September 2024 the HSI surged about 27% to a 32-month high, then fell roughly 10% in a single session on 8 October when a policy briefing disappointed on fiscal detail.
Notable moments
The dollar peg's double edge
Hong Kong has pegged its dollar to the US dollar near 7.8 since 1983, so it cannot devalue in a downturn — the adjustment falls on asset prices instead. That is why HSI drawdowns can be especially violent, and why the 1998 government stock-buying was needed to defend the peg.
Mainland money via Stock Connect
Since the 2014 Shanghai-Hong Kong Stock Connect, mainland investors can buy HSI stocks directly. Heavy 'southbound' flows have tightened the link between Hong Kong and Beijing policy — a regulatory shift on the mainland can now move the HSI within hours.
Common questions
Why do Chinese tech giants trade in Hong Kong?
Firms like Alibaba, Tencent and Meituan list in Hong Kong to access Asian capital and to satisfy audit standards acceptable to both Hong Kong and US regulators, making HKEX the pragmatic venue as US-listing pressure grew.
What time does it trade in US Eastern?
Roughly 9:30 PM-midnight and 1:00-4:00 AM ET, closing about 5.5 hours before the NYSE opens — so US traders use the HSI close as part of their pre-market read. Educational only, not investment advice.
Is the Hang Seng the same as buying Chinese stocks?
Partly — it holds big Chinese names (Tencent, Alibaba, China Construction Bank) but also genuinely Hong Kong firms like HSBC and AIA. The H-shares and Hang Seng Tech indices are purer mainland-China plays.
Why an 8% single-stock cap?
Since August 2021 no member may exceed 8% of the index (Tencent had neared 10%). The cap stops any one company — or regulatory action against it — from dominating returns, and forces ETF rebalancing around the threshold.