TENCENT(HK:00700) Cai Jing Wang·2026-01-05 02:16Group 1 - The Hong Kong stock market experienced a strong start in 2026, with 385 stocks rising over 100% in 2025, including 14 stocks that increased more than tenfold [1][2] - Notable high-performing stocks included Base Champion Group with a 41.64 times increase, Beihai Kangcheng with over 18 times increase, and Zhu Feng Gold benefiting from rising gold prices with over 12 times increase [1] - The number of "red bottom stocks," defined as stocks trading above 100 HKD, increased significantly from 22 at the beginning of 2025 to 45 by the end of the year, indicating a growing recognition of quality leading enterprises [2] Group 2 - The increase in "red bottom stocks" reflects a shift in market sentiment towards high market capitalization and high liquidity assets, with major companies like Tencent, Ctrip, and NIO trading above 500 HKD [2] - The concentration of "red bottom stocks" in leading industries such as internet technology, finance, healthcare, and consumer sectors signifies a re-evaluation of their long-term value by the market [2] - Analysts from various institutions are optimistic about the Hong Kong stock market in 2026, particularly in the technology sector, driven by factors such as price increases in the supply chain and domestic replacements [3]