Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) will maintain normal trading operations despite the approach of Super Typhoon Haikui, following the implementation of "trading during inclement weather" measures approved a year ago [4]. Group 1: Weather Impact and Trading Operations - The Hong Kong Observatory issued a No. 8 tropical cyclone warning signal as Super Typhoon Haikui approaches, with expectations of worsening weather conditions [1]. - The Financial Secretary of Hong Kong, Paul Chan, stated that the government is prepared for the typhoon and has activated a coordination center to ensure smooth financial market operations under extreme conditions [4]. - The "trading during inclement weather" policy has been in effect for one year, allowing the market to operate under severe weather conditions, which has been practiced successfully [4]. Group 2: Recommendations for Market Participants - HKEX has urged market participants to prepare for trading during inclement weather, advising them to adjust operational and human resources accordingly [5]. - Securities brokers are advised to ensure sufficient banking services and electronic transfer limits to handle daily operations during inclement weather trading days [6]. - Investors should familiarize themselves with the electronic trading platforms and services provided by their banks or brokers during inclement weather trading days [7].

Core Insights - Deloitte projects that by the first three quarters of 2025, the Hong Kong Stock Exchange (HKEX) will see 66 new listings, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [2][3] - The report highlights a significant increase in new listings and financing in Hong Kong, driven by policies encouraging mainland enterprises to list in Hong Kong and improved liquidity from international capital inflows [2] - The number of new listings in Hong Kong is expected to increase by 47% compared to the same period last year, with financing amounting to over 228% growth [2] Market Trends - The Hong Kong IPO market is experiencing strong momentum, with several large and mega H-shares successfully listed, contributing to a substantial increase in new stock financing [2] - The report anticipates that by the end of 2025, there will be over 80 new listings on the HKEX, with total financing expected to reach between HKD 250 billion and HKD 280 billion [3] - The influx of overseas capital is significantly boosting trading volumes in the Hong Kong stock market, leading to a continued recovery in valuations [3]

Group 1 - The Hong Kong Financial Secretary, Xu Zhengyu, welcomes the signing of a memorandum of cooperation between the Hong Kong Stock Exchange and several carbon trading platforms in the Greater Bay Area, aiming to enhance knowledge exchange and collaboration in the carbon market and green finance ecosystem [1] - This memorandum is the first quadrilateral agreement among carbon exchanges in the Greater Bay Area, indicating a significant step towards the orderly and healthy development of the carbon market in the region [1] - The new Policy Address emphasizes strengthening pilot cooperation with the Greater Bay Area carbon market and building a carbon market ecosystem, showcasing the commitment of the Hong Kong government and the Stock Exchange to promote collaboration with mainland carbon markets [1]

Group 1 - Deloitte projects that the Hong Kong Stock Exchange will have 66 new listings in the first three quarters of 2025, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [1][2] - The report indicates that the Hong Kong IPO market is benefiting from policies encouraging mainland leading companies to list in Hong Kong and the optimization of the new listing application approval process, leading to a significant improvement in liquidity and a steady recovery in market valuations [1] - In the first three quarters of this year, Hong Kong is expected to see 66 new listings, a 47% increase from 45 last year, with total financing rising 228% from HKD 55.6 billion to HKD 182.3 billion [1] Group 2 - Deloitte anticipates that over 80 new listings will occur on the Hong Kong Stock Exchange in 2025, with total financing expected to reach between HKD 250 billion and HKD 280 billion, including at least 5 super-large IPOs by the end of the year [2] - The influx of overseas capital into Hong Kong is significantly boosting trading volumes and valuations, while policies supporting mainland companies listing in Hong Kong and simplifying the listing process for A-share companies are attracting large and super-large IPOs to the market [2]

Group 1 - Deloitte projects that the Hong Kong Stock Exchange will have 66 IPOs in the first three quarters of 2025, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [1][2] - The report indicates that the Hong Kong IPO market is benefiting from policies encouraging mainland leading companies to list in Hong Kong and the optimization of the new listing application approval process, leading to a significant improvement in liquidity and a steady recovery in market valuation [1] - In the first three quarters of 2025, the number of new listings in Hong Kong is expected to increase by 47% compared to the same period last year, with total financing rising by 228% [1] Group 2 - Deloitte's partner Ren Shaowen highlighted that the influx of overseas funds into Hong Kong is significantly boosting trading volumes and valuations, allowing Hong Kong to maintain its position as the top global IPO financing market [2] - For the entire year of 2025, Deloitte anticipates over 80 IPOs on the Hong Kong Stock Exchange, with total financing expected to reach between HKD 250 billion and HKD 280 billion, including at least five super-large IPOs by the end of the year [2]

Group 1 - The Hong Kong Observatory is assessing whether to issue a higher tropical cyclone warning signal between 11 PM tonight and 3 AM tomorrow [1] - The Hong Kong Stock Exchange has reiterated that trading will proceed as normal [1] - The Financial Secretary of Hong Kong, Paul Chan, has activated the coordination center under the Financial Services and the Treasury Bureau to ensure smooth operation of all aspects of the financial market under extreme conditions [1]

Core Viewpoint - Hong Kong Stock Exchange has signed a memorandum of cooperation with Guangzhou Carbon Emission Trading Center, Shenzhen Green Exchange, and Macau International Carbon Emission Trading Exchange to promote the development of the carbon market and green finance ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1 - The four exchanges will explore cooperation opportunities in the carbon market and green finance sectors [1] - The collaboration aims to enhance experience exchange and knowledge sharing among relevant institutions and personnel [1] - The initiative is expected to improve professional capabilities in carbon market operations and green finance [1] - The partnership will contribute to the deepening development of the regional carbon market [1]

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has signed a memorandum of cooperation with Guangzhou Carbon Emission Trading Center, Shenzhen Green Exchange, and Macau International Carbon Emission Trading Exchange to promote the development of the carbon market and green finance ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1 - The four exchanges will explore cooperation opportunities in the carbon market and green finance sectors [1] - The collaboration aims to enhance experience exchange and knowledge sharing among the institutions involved [1] - The initiative is expected to improve the professional capabilities of relevant institutions and personnel in carbon market operations and green finance [1] - The partnership will contribute to the deepening development of the regional carbon market [1]

Core Viewpoint - The Hong Kong government welcomes the approval of three warehouses in Yuen Long by the London Metal Exchange (LME) as recognized warehouses, enhancing Hong Kong's position as a key hub for international metal trading [1] Group 1: Government and Regulatory Actions - The Financial Secretary of the Hong Kong Special Administrative Region, Xu Zhengyu, expressed support for the LME's expansion of storage facilities in Hong Kong, aligning with the Chief Executive's 2025 policy direction [1] - The total number of recognized warehouses by the LME in Hong Kong has increased to 11, including the three newly approved warehouses [1] Group 2: Industry Impact - The addition of the three warehouses will provide efficient delivery options for participants in international metal trading, contributing to the development of Hong Kong's shipping and other related services [1] - The LME included Hong Kong in its global warehouse network as a licensed delivery point in January of this year, allowing warehouse operators to apply for licenses to store metals registered with the LME [1]

Group 1 - Hong Kong's capital market has emerged as a "dark horse" in the global IPO landscape since 2025, with a fundraising amount of HKD 107.1 billion in the first half of the year, expected to exceed HKD 220 billion for the entire year, reclaiming the top position globally [2][3] - The "A+H" dual listing model has become normalized, with major A-share companies like CATL and Hengrui Medicine listing in Hong Kong, creating an IPO matrix of "large enterprises + hard technology + new consumption" [3] - The introduction of the Chapter 18C and "Special Line for Tech Companies" policies has lowered the entry barriers for unprofitable tech firms to list in Hong Kong, allowing AI companies to successfully go public [3][5] Group 2 - The active IPO market in Hong Kong reflects a global capital reallocation towards Chinese core assets, driven by a reduction in stock stamp duty and an increase in family office assets [4] - Companies in advanced manufacturing, such as Sanhua Intelligent Controls and Lens Technology, have achieved valuation recovery through the Hong Kong market, showcasing its efficiency for "tech + production" firms [5] - The consumer and pharmaceutical sectors have seen significant activity, with brands like Mixue Ice City and Hengrui Medicine attracting substantial institutional support, indicating a rebuilding of market trust in the biotech sector [5] Group 3 - Hong Kong is transitioning from a "follower" to a "rule-maker" in the IPO space, implementing differentiated strategies to build a competitive edge against Nasdaq and NYSE [6] - The deepening of mutual connectivity, such as the Bond Connect, has solidified Hong Kong's position as a key investment channel, with a notable increase in foreign holdings of Chinese bonds [6] - The IPO market in Hong Kong is forming a positive cycle of "institutional innovation - capital inflow - industrial upgrading," with expectations of significant new listings and capital influx [6]