China's mainland investors have played an unprecedented role in a rally on Hong Kong's equity market that has pushed the benchmark index to its highest level since 2022. Mainland investors typically buy or sell Hong Kong-listed shares via the southbound link of the Stock Connect scheme.

Hong Kong Exchanges and Clearing reported full-year profits of HK$13.1bn (US$1.7bn) on Thursday, topping the previous record of HK$12.5bn set in 2021 amid a pandemic-era trading boom. Fourth-quarter profits rose 46 per cent year on year to HK$3.

Net profit in 2024 rose 10 per cent to HK$13 billion (US$1.7 billion), aided by higher fees from handling market transactions and new stock listings.

Anticipation builds as crowds file in to see stars such as martial arts film legend Donnie Yen, Cantopop diva Joey Yung and fencer Vivian Kong.

On Saturday, Hong Kong will officially open a new 50,000-seat stadium with a gala event, part of its bid to compete with cities around the region that are spending billions of dollars on state-of-the-art arenas to attract sports games and concerts by the world’s biggest stars.

Hong Kong launched a sprawling sports complex on Saturday, with officials and celebrities opening the HK$30 billion ($3.86 billion) Kai Tak Sports Park at its centrepiece 50,000-seat stadium. The complex also features a 10,