Hong Kong, Feb 22, 2026, 14:01 HKT — Market has closed.
Hong Kong Exchanges and Clearing shares enter a pivotal week, with full-year earnings on tap this Thursday. At Friday’s close, HKEX finished at HK$407.80, dropping HK$1.00, or 0.25%. The Hang Seng Index kicked off the Year of the Horse, sliding 1.1% in its first session, after officials and HKEX executives promoted listings and reform efforts during the Lunar New Year opening.
Timing is key here: HKEX’s results tend to move alongside trading volume and IPO flows, and there’s a question now whether that initial jump in listings is translating to reliable fee revenue. Final numbers are due out Feb. 26.
Financial Secretary Paul Chan sounded a cautious note of optimism Friday, remarking, “Like a fine horse, our market will continue its resilience and vigour despite all the external challenges.” HKEX chairman Carlson Tong described 2026 as “a very encouraging start,” highlighting ongoing reforms such as the consultation on switching to “T+1” settlement. Over at HKEX, chief executive Bonnie Chan said IPO fundraising since January has hit 25% of last year’s figure—clear sign of “strong momentum,” according to RTHK. RTHK News
Tong reports the IPO queue now counts 488 companies, Xinhua says. Over 24 new listings have already pulled in HK$87 billion this year. Even as more names stack up, he promised the exchange won’t ease up on listing reviews.
T+1: traders get their cash or shares after just one business day, not two. Then there’s weighted voting rights, a dual-class setup that hands certain founders more ballots at the table — Hong Kong’s pitch to reel in fast-growing tech players.
Traders outside Hong Kong are taking in fresh moves at the group’s metals division. The London Metal Exchange said it will now lock in permanent curbs on members holding big long positions in nearby contracts. Those with positions above total stock levels will have to lend metal back at zero premium. “Overall, market participants conveyed that a rules-based solution applied in a fair and consistent way would bring stability, transparency, and confidence to the market,” the LME said. Reuters
The LME rolled out a new $6,250 one-time fee and a $1,000 yearly charge for “Brand Listers,” while also giving members a break on fees when they “cross” orders through its LMEselect electronic platform. Reuters
For HKEX shareholders, Thursday’s report isn’t just a question of one metric. The focus falls on whether management can deliver a convincing narrative: listings making their way through the pipeline, trading volumes holding up post-holiday, and tangible steps forward on reforms aimed at keeping global issuers interested in the exchange.
Markets know the drill on the downside. Should risk appetite slip, whether from geopolitics, rates, or shaky China sentiment, trading volumes can disappear quickly. IPOs may just sit out, applications ready but no deals moving.
The market stays closed Sunday. Eyes now turn to Monday’s open. But the key date is Thursday—HKEX is set to post its results, and investors will be watching for new details on IPO conversion, T+1, and possible changes to listing rules.
