The IPO scale in the Hong Kong stock market has increased by over 500% year-on-year, surpassing HKD 100 billion since the beginning of this year.

With the listing of two new stocks on the Hong Kong Stock Exchange on March 24, the scale of companies listed on the Hong Kong exchange has expanded again. Data shows that in less than three months since 2026, the amount of funds raised by the Hong Kong IPO market has already surpassed the HK$100 billion threshold, up more than 500% year-on-year. Judging by individual stocks, among the 34 newly listed stocks, the proportion containing “科” has also increased noticeably, and several of the underlying names come from industries such as semiconductors and software. It is also worth noting that, unlike the upward trend in both the 2025 primary and secondary markets, the Hong Kong secondary market has seen volatility and a pullback this year, without synchronizing with the hot status of the primary market. In the view of industry insiders, the impact of the Middle East geopolitical conflict on global risk assets has not been fully eliminated. In the short term, Hong Kong stocks place greater emphasis on risk prevention; beyond the value dividend sector, it is recommended to continue paying attention to the new energy sector. (China Securities Journal)