China's securities regulator supports IPOs in Hong Kong, causing a 9% surge in the Hang Seng Index.

China's securities regulator's support for IPOs in Hong Kong has boosted the city's $5 trillion stock market, causing a 9% surge in the Hang Seng Index, its best gain since 2011. However, dealmakers remain cautious about the plan's long-term success, as challenges such as weak IPO market, low valuations, and Beijing's uncertain economic outlook pose hurdles. Additionally, foreign investors' distrust of Beijing's policymaking further complicates the situation.

April 29, 2024
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