Lunar New Year 2026: The “Capital Migration” Shaping Global Markets

(Data as of 10 February 2026)

The 2026 Lunar New Year—the Year of the Fire Horse—is marked by an extended nine-day holiday (February 15–23). For investors, this period represents a “Capital Migration,” where liquidity shifts from traditional financial hubs into high-velocity consumer spending, luxury gifting, and digital entertainment.

1) The Reunion Meal: Haidilao (6862.HK, YTD Performance: +19.50%)

Hotpot remains the definitive “reunion meal,” making Haidilao the primary high-frequency play for the festive window.

• The Opportunity: With the return of Zhang Yong as CEO, Haidilao is shifting focus back to aggressive growth and execution, fuelled by a successful expansion into “community dining” and pop-up locations at high-traffic hubs.
  
  
• The Metric: Table turnover rates in Tier-1 cities have historically surged to 5.0x daily during the Lunar New Year. The +19.50% YTD gain reflects investor confidence in the brand’s ability to capture the peak of the “reunion economy” cash flow.

2) The Gifting Currency: Kweichow Moutai (600519.SH, YTD Performance: +5.53%)

Moutai functions less like a beverage and more like a financial asset during the Spring Festival, serving as the gold standard for social currency and high-end gifting.

• The Opportunity: Shares have climbed as wholesale prices for “Feitian” Moutai stabilized ahead of the peak banquet season.
  
  
• The Metric: While its growth is more measured than the tech sector, Moutai’s high earnings stability makes it a “defensive growth” anchor for portfolios during the traditionally volatile Horse year.

3) The Digital Backbone: Alibaba Group (BABA), YTD Performance: +7.72%

Alibaba provides the logistical and financial “back-end” for the holiday, from digital red envelopes (Hongbao) to the massive surge in “New Year Goods” shopping.

• The Opportunity: Alibaba is heating up the AI race by committing 3 billion yuan ($431 million) to attract users to its Qwen AI app during the holiday. This triples the spending promised by major rivals.
  
  
• The Metric: BABA has seen a 7.66% price appreciation over the last month. The company is leveraging its AI-Cloud division to manage the heavy traffic of the “Spring Festival Shopping Gala,” offering incentives for dining, entertainment, and leisure starting February 6.

4) The Youth Digital Hub: Bilibili (9626.HK, YTD Performance: +20.38%)

Bilibili captures the “digital downtime” of the 9-day holiday, specifically among the high-spending Gen-Z and Millennial demographics.

• The Opportunity: The company has achieved a landmark financial turnaround, reaching operating margins of 8% after years of losses. Its 2026 CNY anime content and “Most Beautiful Night” gala are key drivers for advertising revenue.
  
  
• The Metric: Users currently spend an average of 112 minutes per day on the platform. The +20.38% YTD rally represents a fundamental re-rating of the stock from a growth play to a profitable entertainment giant.

Access The Chinese Market With ETFs

Apart from picking individual stocks, ETFs are an easier way for customers to gain access to the Chinese market via a basket of stocks. Here are some ETFs that you may be keen to add to your watchlist during this Lunar New Year holidays:

• Global X China (HKEX: 2806, YTD + 3.96%)
  
  
• KWEB KraneShares CSI China Internet ETF (AMEX: KWEB, YTD -3.62%)
  
  
• Invesco China Tech (AMEX: CQQQ, YTD: -0.44%)

Gain access to shares and ETFs from the Chinese, Hong Kong, US, Singapore and Malaysian markets from as low as 0.01%. Open an account now!