Hong Kong is on-route to achieve this year’s global IPO crown for raising the largest amount money in stock market debuts, as it is marginally ahead of its arch-rival in New York. However, amid global trade tensions and supply lag worries, the recent listings of Hong Kong stock exchange have been experiencing the worst performances among leading boards.
According to the recent data, the figures are a heavy blow to Hong Kong as well as Asian stocks, however, Companies debuted in Hong Kong had raised over $31.4 billion this year, while the NYSE raised $30.2 billion. However, in comparison to NYSE and Nasdaq composite, the Hong Kong lacks success, as six of their 20 biggest IPOs, had still been trading above their initially offered prices after one month of their debuts, while the number was 16 on NYSE and 10 on Nasdaq composite.
Two of the Hong Kong’s biggest debut this year were Xiaomi and Meituan Dianping, which had raised around $9.7 billion during the IPO, however, both of them are 19% and 26% down, respectively, since their upsurge in July and September.
In fact, Hong Kong had been hit much harder than NYSE and Nasdaq, over the volatility concerns raised by US-China trade war and dimmed global demand. Despite that fact, it has still been on course to achieve this year’s Global IPO Crown.