HSBC Turns Bullish on Hungary’s Stocks After ‘Game-Changer’ Vote

Hungary’s stocks can extend their rally as a landslide opposition victory marks a “game-changer” that could sharply compress risk premiums and unlock a long-awaited re-rating, according to strategists at HSBC Holdings Plc.

HSBC upgraded its recommendation on the country’s equities to overweight from neutral in the wake of Sunday’s elections. Budapest’s BUX index surged to a record a day after the ballot and is up 5.2% this week — the most among more than 90 primary equity indexes tracked by Bloomberg. It’s advanced 26% so far in 2026.