The Hang Seng rose 219 points, or 0.9%, to end at 25,855 on Tuesday, reversing prior losses with broad-based sector gains. Tech stocks led the rally, up 1.7% on strong moves from SMIC (4.5%), Horizon Robotics (3.3%), Trip.com (1.9%), and Kuaishou Tech (1.0%). Consumer shares also advanced, while financials edged higher after Hong Kong’s November trade data showed exports and imports rising the most in four years, underscoring firm demand both abroad and at home. Sentiment was further boosted by six Chinese firms debuting in Hong Kong, most opening above IPO prices, capping a strong year for listings and reinforcing the city’s role as Asia’s leading fundraising hub. Markets are on track for a second straight annual gain, surging about 28.5% so far, buoyed by ample mainland liquidity, easing U.S.–China trade tensions, and Beijing’s pledge to sustain growth through proactive fiscal measures and accommodative monetary policy. Trading will continue Wednesday but close early for the holiday.