Alibaba and Tencent lift Hang Seng 3% after US midterms

Business Nov 05, 2026

Hong Kong's stock market had a big Thursday, with the Hang Seng Index climbing 3%.

Tech giants like Alibaba and Tencent were the main drivers, helping the Hang Seng Tech Index rise 5%.

Investors seemed more upbeat after the US midterm elections, bringing some fresh energy into the market.

PetroChina falls 7% on crude drop

While China's main stock indices saw small gains, energy shares struggled.

Crude oil prices dropped nearly 9% (thanks to signs of easing global tensions and possible extra supply), which led to PetroChina falling 7%.

The buzz around tech (like AI) is clearly pulling attention away from old-school energy right now.