【Hong Kong Stock Analysis】Hang Seng Index Turns Higher by Nearly 200 Points in Afternoon Session; Analysts: Constrained by 26,100-26,200 Resistance Zone, Short-term Focus on Whether Tencent Earnings Can Serve as Catalyst

SocialAnxietyStaker · 2026-03-18T05:55:00+00:00

The Hang Seng Index opened higher today with volatility, ultimately rising nearly 200 points driven by Alibaba. ZTO Express reported earnings slightly better than expected, with its stock price rising 7%. Analysts point out that Hong Kong stocks are constrained by resistance at 26100 to 26200 points, and future movements need to monitor US-Iran conflicts and oil price changes. Tencent's earnings will be a key factor in market direction.

SocialAnxietyStaker

2026-03-18 05:55:00

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Hang Seng Index opened 54 points higher today, then briefly fell before rebounding nearly 200 points in the afternoon, driven by Alibaba (09988). China Express (02057) earned 9% over more than half a year, slightly better than expected, with the stock rising 7%. Additionally, there was renewed hype around large model stocks, with MiniMiax (00100) rising 12% in half a day, and Zhipu (02513) up 6%. Analysts pointed out that the market should watch developments in the Iran conflict and oil prices, expecting the Hang Seng Index to continue fluctuating within a range.

An analyst said, “Hong Kong stocks are currently constrained by resistance around 26,100 to 26,200 points, roughly near the 100-day moving average, with support around 25,200 points.”

“To break out of this gloom, Hong Kong stocks ultimately depend on signs of easing in the US-Iran conflict, and oil prices also influence the market direction. Recently, precious metals have also declined, which has led to a somewhat lackluster performance in Hong Kong stocks.”

“Hong Kong stocks currently lack direction… For an upward move, it ultimately depends on some catalysts. Let’s see if Tencent (00700) reports any new progress in its earnings today that could help restore the market.”

He pointed out that Tencent’s earlier launch of Qclaw-related services attracted many users to install, which is positive for the company’s investment sentiment. He advised investors to pay attention not only to profit growth figures but also to capital expenditure data and chip supply conditions.

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