HKEX(HK:00388) Shang Hai Zheng Quan Bao·2025-09-07 18:30Core Insights - The Hong Kong Stock Exchange (HKEX) is experiencing a resurgence in interest from long-term overseas investors, shifting from a previous stance of "cannot invest" to "cannot miss investing" in Chinese assets [1][5][6] - The average daily trading volume in the Hong Kong stock market has nearly doubled compared to last year, reaching 240 billion HKD in the first half of the year [2][3] - The IPO market in Hong Kong has seen significant growth, with total new stock financing reaching 134.5 billion HKD in the first eight months of the year, a nearly sixfold increase compared to the same period in 2024 [3][5] Investment Trends - Overseas funds are increasingly participating in Hong Kong's IPO market, with foreign long-term funds accounting for a substantial portion of subscriptions for technology IPOs [3][5] - The perception of Chinese assets among global investors has shifted from passive to active engagement, with many now actively researching the fundamentals of Chinese companies [4][5] Market Dynamics - The trading volume from southbound funds is only about 20% of the total daily trading volume, indicating that a significant portion of trading activity is driven by global investors [3] - The HKEX is focusing on enhancing its platform and product offerings to retain and attract more capital, aiming to support companies with financing needs [6][7] Future Outlook - The HKEX plans to continue improving its inclusivity for various sectors, including biotechnology, advanced manufacturing, and new consumption, to attract more listings [6][7] - The exchange is also looking to expand its product offerings beyond equities to include fixed income, foreign exchange, and commodities, addressing the needs of long-term investors for liquidity and risk management tools [7]