Hong Kong's IPO boom is developing a performance problem (opens original article in a new tab)

Hong Kong's IPO market leads globally in fundraising but faces issues with underperforming stocks, especially after Stock Connect inclusion, prompting concerns about short-term gains and market stability.

• Hong Kong's IPOs have underperformed, with half of 179 listings since January 2025 trading lower.
• Stock Connect listings saw sharp price increases followed by significant declines post-inclusion.
• Beijing and financial analysts highlight concerns over short-term performance and capital shifts to A-shares.