Hang Seng hits 2025 high on U.S.-China talks, TikTok resumes

The Hang Seng surged 342 points, or 1.8%, to close at 19,926 on Monday, marking its fifth consecutive session of gains and reaching its highest level since early 2025.

Hang Seng hits 2025 high on U.S.-China talks, TikTok resumes

The rally was fueled by broad sector advances, bolstered by news of a phone conversation between U.S. President-elect Donald Trump and Chinese President Xi Jinping, where key bilateral issues were discussed. Additionally, Chinese Vice Premier Han Zheng's meeting with Elon Musk and other U.S. business leaders underscored Beijing's push to improve ties ahead of Trump’s return to the White House. Meanwhile, TikTok resumed U.S. operations on Sunday after Trump announced a three-month suspension of a law requiring its Chinese owner to divest. On the policy front, the People's Bank of China (PBoC) held its key lending rates steady for the third consecutive month, which was in line with market expectations.

Hang Seng gains amid uncertainty over Trump orders

However, uncertainty loomed as Trump prepared to issue executive orders on various issues, including tariffs and energy, shortly after his inauguration. Leading gainers on the Hang Seng included Miniso (+5.3%), Meituan (+5.0%), and Wuxi Biologics (+4.1%).