Hong Kong stocks close higher Friday

Hong Kong's stock market rallied on Friday, the first trading day of 2026, with the benchmark Hang Seng Index up 2.76 percent to close at 26,338.47 points.

The Hang Seng China Enterprises Index climbed 2.86 percent to end at 9,168.99 points, and the Hang Seng Tech Index soared 4.00 percent to 5,736.44 points.

The Hang Seng Tech Index represents the 30 largest technology companies listed in Hong Kong.

China will step up efforts to stabilize employment in 2026, said the head of the Ministry of Human Resources and Social Security (MOHRSS) at a press conference on Saturday.

Last year, China's top political advisory body issued policy guidance known as the "four stabilities", directing relevant ministries and departments to seek stabilization in the areas of jobs, firms, markets and expectations.

In response, the MOHRSS has implemented an employment-first strategy. According to Minister Wang Xiaoping, speaking at a presser on the sidelines of the ongoing fourth session of the 14th National People's Congress in Beijing, the ministry will continue that strategy.

"We will further implement the employment-first strategy and requirements of the 'four stabilities', strengthen guidance, expand channels and prioritize key groups to make new progress in high-quality full employment," she said.

"In terms of 'stabilizing jobs', we will increase support for labor-intensive industries such as foreign trade, construction, accommodation and catering, with the aim of stabilizing employment positions while promoting the development of these sectors. In terms of 'expanding capacity', we will actively tap the employment potential in fields such as the digital economy, high-end manufacturing and modern services to achieve job growth alongside industrial upgrading. In terms of 'improving quality', we will effectively implement the adjustment mechanism for minimum wage standards, regulate the human resources market order, and fully enforce the guarantee system guaranteeing for migrant workers' wage payments, thereby elevating employment quality through strengthened rights protection," she said.

She noted that specific measures will be introduced to assist the upcoming wave of graduates.

"The number of college graduates in China is expected to reach 12.7 million this year. We will further improve policy measures, fully tap the employment potential of various channels and fields, expand employment space at the grassroots level, and help young people display their talents in all walks of life," she said.