Investment Value Analysis of Beijing Stock Exchange 50 Index and Hang Seng Tech Index in 2026

This analysis is based on guest sharing at the 2025 Snowball Carnival and brokerage 2026 annual strategy views [1]. Liu Gang from CICC proposed that asset allocation should “follow the direction of credit expansion”, Shenwan Hongyuan called for “Bull Market 2.0”, and Guotai Haitong predicted “challenging the 5178 point”. In terms of positioning, the Beijing Stock Exchange 50 Index focuses on specialized, sophisticated, unique, and new enterprises and hard-core manufacturing, aligning with the direction of policy support; the Hang Seng Tech Index carries Chinese technology going global under the global AI wave, with industry growth potential.
From the perspective of market performance, the Hang Seng Index has performed strongly over the past two years, with an increase of 54.10% from 2023 to 2025 and nearly 29.44% for the full year of 2025 [0], indicating increased market confidence in Hong Kong stocks. As a technology sub-index, the Hang Seng Tech Index is usually highly correlated with the Hang Seng Index and may benefit from the overall recovery of Hong Kong stocks. However, it should be noted that key data such as valuation and liquidity of the Beijing Stock Exchange 50 Index and Hang Seng Tech Index are currently missing, making a comprehensive quantitative analysis impossible.

1. Alignment of Policy and Positioning
   : The specialized, sophisticated, unique, and new positioning of the Beijing Stock Exchange 50 Index is consistent with the current policy support direction. If policy dividends continue to be released, it is expected to gain valuation repair momentum; the technology going global attribute of the Hang Seng Tech Index aligns with the global AI development trend, with long-term growth logic.
2. Hong Kong Stock Market Foundation Support
   : The strong performance of the Hang Seng Index over the past two years has provided a market confidence foundation for Hong Kong stocks and related technology indices, but the lack of core sub-index data limits the accurate judgment of the “dual engines” potential.
3. Brokerage Strategies Need Verification
   : The specific contents of the 2026 annual strategy reports of brokerages such as Shenwan Hongyuan and Guotai Haitong have not been verified, and the reliability of their views such as “Bull Market 2.0” and “challenging the 5178 point” needs further confirmation.

• Opportunities
  : If factors such as policy support, credit expansion, and the global AI wave are implemented, they may drive the performance of the Beijing Stock Exchange 50 Index and Hang Seng Tech Index. The strong performance of the Hang Seng Index provides a market foundation for related indices; if the data is improved and shows low valuation or improved liquidity, the investment cost-effectiveness may increase.
• Risks
  : The lack of key index data leads to limitations in the analysis; brokerage strategy views have not been verified, and there is uncertainty in bull market expectations; market fluctuations and changes in the external environment may affect index performance.
• Priority and Time Sensitivity
  : Currently, priority should be given to the disclosure of core data of the Beijing Stock Exchange 50 Index and Hang Seng Tech Index, as well as the verification of the specific content of brokerage strategy reports. After the data is improved, the investment cost-effectiveness can be further evaluated.

This analysis combines market performance, policy direction, and brokerage views to conduct a preliminary discussion on the investment value of the Beijing Stock Exchange 50 Index and Hang Seng Tech Index. The strong performance of the Hang Seng Index provides a market confidence foundation for related indices. The positioning of both indices aligns with current policies and industry trends, but due to the lack of key data, the possibility of “dual engines” needs to be viewed cautiously. Investors should pay attention to subsequent data disclosure and the verification of brokerage strategies to more comprehensively evaluate investment cost-effectiveness.