2025上半年收官盘点：“稳定币概念”飙涨76%、港股IPO大爆发、泰指垫底

Market Performance Overview - In the first half of 2025, the South Korean Composite Index saw a significant increase of 28.01%, leading global markets, while the Israeli TA35 index rose by 23.1%, topping the Middle Eastern markets [1] - The Luxembourg LUXX, Chilean Composite Index, German DAX, and Hang Seng Index all recorded gains exceeding 20%, with the Hang Seng Index's three major indices ranking among the top ten globally [1] - Conversely, the Thai SET Index experienced a decline of 22.7%, marking the lowest performance [1] A-Share Market Analysis - In June 2025, all three major A-share indices closed higher, with the Shanghai Composite Index rising by 2.9% to 3444 points, the Shenzhen Component Index increasing by 4.23% to 10465 points, and the ChiNext Index climbing by 8.02% to 2153 points [4] - For the first half of 2025, the Shanghai Composite Index gained 2.76%, the Shenzhen Component Index rose by 0.48%, and the ChiNext Index increased by 0.53% [4] - Among 31 primary industries, 20 recorded positive returns, while 11 experienced negative returns, with the top five performing sectors being non-ferrous metals (up 18.12%), banking (up 13.1%), defense and military (up 12.99%), media (up 12.77%), and telecommunications (up 9.4%) [5] Individual Stock Performance - The top ten A-share stocks in the first half of 2025 all saw gains exceeding 200%, with the highest performers being United Chemical (up 437.83%), Shuyou Shen (up 403.1%), and Jiuling Technology (up 449.66%) [6] - The worst performers included China Ruilin (down 46.71%), Haiyang Technology (down 43.7%), and Tianmao Group (down 41.33%) [6] - A total of 14 companies were delisted in the first half of 2025, predominantly due to financial issues [6][7] IPO and Fundraising Activities - In the first half of 2025, 51 companies were listed on the A-share market, raising a total of 37.355 billion yuan, reflecting a year-on-year increase of 15.9% [6] Hong Kong Market Overview - The Hong Kong market saw significant gains in various sectors, particularly in leisure goods, hotel and catering, biotechnology, precious metals, and computer peripherals, while traditional sectors like energy and utilities lagged [11] - The top three performing stocks in Hong Kong, excluding those with a market cap below 10 billion, were Laoputang Gold (up 321.53%), San Sheng Pharmaceutical (up 288.98%), and Yaocai Securities (up 278.51%) [13] - In June 2025, southbound funds recorded a net purchase of 80.251 billion HKD, marking the 24th consecutive month of net buying, with a total of 731.187 billion HKD in the first half of 2025, nearly matching the total for the entire year of 2024 [13] IPO and Fundraising in Hong Kong - The Hong Kong Stock Exchange welcomed 43 new listings in the first half of 2025, raising a total of 106.71 billion HKD, which represents a year-on-year increase of 43.3% [13]