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The logo of Hong Kong Exchanges & Clearing Ltd. (HKEX) is seen at the financial Central district in Hong Kong, China, on Sept. 14, 2020. Tyrone Siu/Reuters
Chinese A-share companies have started listing in Switzerland, while the Hong Kong Stock Exchange (HKEX) saw a record low funding in IPOs.
Hong Kong’s Weak IPO Market
According to its latest interim results (pdf), in the first half of 2022, the HKEX saw a 27 percent drop in profit and an 18 percent decline in revenue and other incomes compared to the same period last year. Its IPO fundraising plummeted from HK$211.7 billion (around $27.5 billion) to HK$19.7 billion (around $2.6 billion), dropping 91 percent year over year.
Kathleen Li has contributed to The Epoch Times since 2009 and focuses on China-related topics. She is an engineer, chartered in civil and structural engineering in Australia.
