diff --git a/src/index.js b/src/index.js
index 154f5fea..069ac721 100644
--- a/src/index.js
+++ b/src/index.js
@@ -826,7 +826,7 @@ class MiniCssExtractPlugin {
 
           return Template.asString([
             `var createStylesheet = ${runtimeTemplate.basicFunction(
-              "chunkId, fullhref, resolve, reject",
+              "chunkId, fullhref, oldTag, resolve, reject",
               [
                 'var linkTag = document.createElement("link");',
                 this.runtimeOptions.attributes
@@ -886,7 +886,13 @@ class MiniCssExtractPlugin {
                         `var target = document.querySelector("${this.runtimeOptions.insert}");`,
                         `target.parentNode.insertBefore(linkTag, target.nextSibling);`,
                       ])
-                  : Template.asString(["document.head.appendChild(linkTag);"]),
+                  : Template.asString([
+                      "if (oldTag) {",
+                      Template.indent(["oldTag.after(linkTag);"]),
+                      "} else {",
+                      Template.indent(["document.head.appendChild(linkTag);"]),
+                      "}",
+                    ]),
                 "return linkTag;",
               ]
             )};`,
@@ -919,7 +925,7 @@ class MiniCssExtractPlugin {
                   `var href = ${RuntimeGlobals.require}.miniCssF(chunkId);`,
                   `var fullhref = ${RuntimeGlobals.publicPath} + href;`,
                   "if(findStylesheet(href, fullhref)) return resolve();",
-                  "createStylesheet(chunkId, fullhref, resolve, reject);",
+                  "createStylesheet(chunkId, fullhref, null, resolve, reject);",
                 ]
               )});`
             )}`,
@@ -995,7 +1001,7 @@ class MiniCssExtractPlugin {
                           `promises.push(new Promise(${runtimeTemplate.basicFunction(
                             "resolve, reject",
                             [
-                              `var tag = createStylesheet(chunkId, fullhref, ${runtimeTemplate.basicFunction(
+                              `var tag = createStylesheet(chunkId, fullhref, oldTag, ${runtimeTemplate.basicFunction(
                                 "",
                                 [
                                   'tag.as = "style";',
diff --git a/test/manual/index.html b/test/manual/index.html
index 0a438be4..610b7268 100644
--- a/test/manual/index.html
+++ b/test/manual/index.html
@@ -49,6 +49,10 @@
         <button class="lazy-button2">pressing this button</button>. Additional
         clicks have no effect.
       </p>
+      <p>
+        (HMR) Now modify the color in lazy.css and save it: This should remain
+        orange.
+      </p>
       <p>
         Refresh and press buttons in reverse order: This should turn green
         instead.
diff --git a/test/manual/webpack.config.js b/test/manual/webpack.config.js
index 4587f51f..3892d04a 100644
--- a/test/manual/webpack.config.js
+++ b/test/manual/webpack.config.js
@@ -69,7 +69,13 @@ module.exports = {
   ],
   devServer: {
     hot: ENABLE_HMR,
-    static: __dirname,
+    static: {
+      directory: __dirname,
+      watch: {
+        // prevent page reload on source change so that we can test HMR
+        ignored: /src/,
+      },
+    },
     headers: {
       "Access-Control-Allow-Origin": "*",
     },