Market Chatter: Hong Kong IPO Market Seen to Welcome Bigger Deals Following Midea's Blockbuster Offering
Express News | HKEX: Standard Chartered Bank repurchased 1.6 million shares of stocks for 11.9 million British pounds on other stock exchanges on September 16th.
HKEX (00388.HK) Chen Yiting: Large new stocks will "come in quick succession"
HKEX (00388.HK) CEO Laura M Cha stated this morning (17th) after attending the listing ceremony that a large number of new stocks will be "coming in succession", with about 100 listing applications currently being processed, including many applications to raise $1 billion. She further expressed the hope that external conditions would permit the company to complete all listing work by the end of the year. Earlier, Laura M Cha and HKEX Chairman Charles Li met with PBoC Governor Yi Gang in Beijing. She stated that the meeting was a courtesy visit, without disclosing details of the discussion, and only indicating that Beijing strongly supports consolidating Hong Kong as an international financial center.
Citi maintained a 'buy' rating for Hong Kong Exchanges and Clearing (00388.HK) amid IPO and Alibaba's expansion to the south, with slightly positive trading.
According to a report released by Bank of America Securities, the fundraising scale of Hong Kong IPOs in the first eight months of this year remains sluggish, declining by 5% year-on-year to approximately 19.8 billion yuan. During this period, a total of 43 companies went public through IPOs, compared to 39 in the same period last year. Although the recent large-scale IPO from the mainland in September, as well as the upcoming IPO planned for the fourth quarter of this year, are expected to exceed last year's financing scale of 46 billion yuan, the bank predicts that this year's financing scale will reach 90 billion yuan, still lower than the 105 billion yuan in 2022 and the 300 billion to 400 billion yuan level from 2018 to 2021. The bank states that
The bad weather will suspend the market starting next Monday. Hui Ching-yu: Reform will align Hong Kong's market with the international market.
Securities and derivative product market trading under inclement weather conditions will be implemented from September 23. Secretary for Financial Services and the Treasury Christopher Hui expressed his great pleasure in seeing the implementation of this important reform in the Hong Kong market, which is the result of the concerted efforts and overcoming of difficulties by market participants and stakeholders. He further pointed out that the implementation of this reform will allow the Hong Kong market to align with international standards and practices. Hong Kong, as an international financial center, is committed to continuous reform and optimization of different trading mechanisms, and to continuously improving the role of connecting mainland and overseas capital. After completing the testing and market rehearsal phases, the securities market will account for a certain percentage of trading volume in the market.
A major change! Hong Kong Exchanges and Clearing Limited (HKEX) announced the implementation of trading during severe weather conditions, which will take effect next week.
On September 16, the Hong Kong Stock Exchange announced that the exchange has obtained regulatory approval to implement adverse weather trading. Adverse weather trading will take effect from September 23, 2024. Securities trading conducted on the exchange or through the exchange (including the northbound and southbound trading of the Shanghai-Hong Kong Stock Connect) will continue to operate during adverse weather conditions. Similar to regular trading days, all exchange participants are required to continue providing trading-related services during adverse weather.