On January 26, 2026, the Hong Kong stock market showed mixed performance with the Hang Seng Index (HSI) slightly up by 0.06%, while the Hang Seng China Enterprises Index (HSCEI) fell by 0.15%, and the Hang Seng Tech Index (HSTECH) dropped by 1.24%. The Hang Seng Composite Index (HSCCI) rose by 1.33%.

Rusal up over 12%; Laopu Gold, Chifeng Gold up over 7%; SD Gold up over 4%; Alibaba down 2%; Baidu, Kuaishou, Bilibili, NIO down around 3%.

In the industry sector, oil stocks saw significant gains driven by geopolitical tensions and an increased oil demand forecast by the International Energy Agency. CNOOC rose over 4%, while PetroChina and Sinopec both increased by over 3%. Gold stocks also performed well, with Zijin Mining up 4.35% following the completion of its major copper mine expansion, and SD Gold rising 4.51% amid soaring gold prices.

Aluminum stocks experienced a strong rally, with RUSAL surging nearly 13% and China Hongqiao reaching a historic high. In contrast, the technology sector faced declines, with Kuaishou-W and XPeng-W both falling over 4%, and other tech giants like SMIC and Bilibili-W dropping over 3%.

In other notable movements, CMOC rose 6.26% after acquiring gold mines in Brazil, and CKH Holdings increased by 3.50% amid plans to restructure its port assets. However, the semiconductor sector struggled, with Iluvatar CoreX plummeting 7.65% due to concerns over DRAM price fluctuations.