Hong Kong's equity capital markets surged in first half, driven by global investor interest

From Yahoo Finance: 2025-06-26 19:03:00

Hong Kong sees a surge in equity capital markets activity in 2025, driven by global investor interest in China and anticipation of Shein’s IPO. Hang Seng Index up 21.2% year-to-date despite U.S.-China tariff negotiations. Asia experiences 15.3% increase in equity issuance, with Hong Kong raising $12.8 billion from IPOs and second listings.

Shein plans to list in Hong Kong, boosting the city’s global fundraising reputation amid U.S. trade policy changes. Goldman Sachs predicts capital outflow from U.S. to Asia, reflecting a more divided world with increased investment opportunities. Across Asia, total equity issuance reaches $116.2 billion in the first half.

Hong Kong sees $12.8 billion raised from IPOs and second listings in the first half, a significant increase from last year. However, IPO proceeds in Hong Kong remain lower than Nasdaq’s $8.5 billion. Despite Hang Seng’s rally, investors are cautious due to global market volatility.

Global investors drive equity transactions in China, participating in major deals like CATL’s $5.3 billion listing. Goldman Sachs leads Asia’s equity capital market league tables in the first half. China implements rate cuts to ease monetary policy amid Sino-U.S. trade war impact. Premier Li Qiang affirms China’s role as a key global economic driver and vows to boost domestic consumption. UBS’s head of equity capital markets for Asia Pacific notes China’s resilience amid trade uncertainties.



Read more at Yahoo Finance: Hong Kong’s equity capital markets bounce back in first half, as Shein IPO looms