A woman walks past an electronic billboard showing Hong Kong stock market performance on February 23, 2026. Photo: VCG

On the second trading day after the holiday, Hong Kong stocks opened higher and extended gains throughout the session. As of Monday's close, the Hang Seng Index rose 2.53 percent to 27,081.91 points, while the Hang Seng Tech Index advanced 3.34 percent to 5,385.35.

With Hong Kong equities resuming trading ahead of the Chinese mainland market, A-shares in the Year of the Horse are set to open soon. Historical data shows that major indices have more often risen than fallen after the Spring Festival break. Overall, brokerages remain broadly optimistic about the post-holiday outlook, according to the China Digital Times, a media outlet affiliated with the China News Service.

In addition, during the holiday period, the offshore yuan at one point strengthened to about 6.88 per US dollar.

Over the same period, most major overseas equity indices posted gains, the China Digital Times reported.

During the Year of the Horse Spring Festival holidays, overseas markets delivered a strong overall performance, with US, Japanese and Hong Kong equities posting notable gains or maintaining positive momentum. The supportive external backdrop has laid a solid foundation for A-shares to open the post-holiday trading period on a firm footing, Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Monday.

On the consumption front, the Spring Festival travel market remained buoyant, particularly domestic tourism, underscoring resilient household spending appetites, a key factor underpinning the expert's upbeat outlook for A-shares at the start of the Year of the Horse, the expert said.

Yang noted that boosting consumption ultimately hinges on raising household incomes. As China's capital market gradually enters a more sustained upward trajectory, the resulting wealth effect is expected to lift household assets and in turn support consumption. Coupled with the A-share market's traditional "spring rally" pattern, equities are likely to embark on a fresh upswing after the holiday, laying the groundwork for this year's performance, according to Yang.

From a macro perspective, Yang added that policy support, ample liquidity and relatively low interest rates could encourage a further shift of household savings into capital markets, providing steady incremental funds. Overall, he said, the Year of the Horse still presents considerable investment opportunities.