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Paul Chan: HK IPO Fundraising Total HKD60B+ YTD, Up 6x YoY
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Hong Kong's Financial Secretary Paul Chan wrote in his blog that the HKD exchange rate remained strong at the beginning of this month, prompting the Hong Kong Monetary Authority (HKMA) to inject approximately HKD129 billion into the market. Local HIBORs descended, however, capital flows and interest rate trends are subject to various internal and external factors, whereas the SAR government and regulatory authorities will keep a close tab on market changes to maintain financial stability, said Chan. He also mentioned that Hong Kong stocks have displayed a positive trend despite struggles since the beginning of this year, with the HSI accumulating a gain of about 16% as of last Friday (17th). The average daily turnover (ADT) in April exceeded HKD270 billion, up 1.4 times compared to the same period last year. This Tuesday (20th), the Hong Kong Stock Exchange (HKEX) will hail the IPO of a mainland new energy pioneer, marking the largest IPO fundraising activity globally this year. This has brought Hong Kong's IPO fundraising total to over HKD60 billion, more than six times the amount of the same period last year, temporarily ranking the city first globally in terms of fundraising scale. AASTOCKS Financial News Website: www.aastocks.com |
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