Group 1 - The Hang Seng Index (HSI) rose by 27.8% in 2025, marking its best performance since 2017, following a 17.7% increase in 2024 [1] - The rise in the HSI was driven by record capital inflows from the Hong Kong Stock Connect, optimism about the future of artificial intelligence, and interest rate cuts [1] - The HSI outperformed two other flagship indices: the Hang Seng China Enterprises Index (up 22.3%) and the Hang Seng Tech Index (up 23.5%) [1] Group 2 - The Hang Seng Composite Index (HSCI) increased by 31.0% in 2025, with mid-cap stocks leading the gains at 31.6%, followed by large-cap stocks at 30.8% and small-cap stocks at 28.8% [2] - Among industry indices in the HSCI, the materials sector had the best performance, rising by 161.3%, while utilities had the worst performance with a 5.7% increase [2] - The Hang Seng High Dividend Yield 30 Index led the high dividend indices with a rise of 38.1% in 2025 [2] Group 3 - The Hang Seng Climate Change 1.5°C Target Index performed well, with an annual increase of 31.2% [3]

Group 1 - The Hong Kong stock market rebounded on November 24, with significant gains in the internet and financial sectors, as the ESG Enhanced Index rose by 1.71% at midday [1] - Southbound capital increased its investment in the Hong Kong stock market, with a net inflow of 38.602 billion HKD last week, representing a more than 55% increase compared to the previous week, marking 27 consecutive weeks of net inflows [1] - Cathay Haitong believes that if short-term factors suppressing the Hong Kong stock market are resolved, the mid-term outlook for the market is positive due to the influx of capital and the presence of high-quality, scarce Chinese assets [1] Group 2 - The E Fund Hang Seng ESG Index (3039) tracks the ESG Enhanced Index, with the top three sectors being financials, consumer discretionary, and information technology, featuring high-quality constituent stocks [1] - As of November 21, 2025, the valuation of the ESG Enhanced Index is at a historical low, with a price-to-earnings ratio (PE_TTM) of 11.78, significantly lower than the Hang Seng Tech Index at approximately 24.29 [3] - The index also shows a price-to-book ratio (PB_LF) of 1.21, lower than the Hang Seng Tech Index's 1.58, and a price-to-sales ratio (PS_TTM) of 1.92, with a dividend yield of 2.84%, indicating strong income attractiveness among major Hong Kong indices [3]