HKEX(HK:00388) Sou Hu Cai Jing·2025-10-22 16:36Core Insights - The article highlights the continuous optimization of the Hong Kong and Shanghai stock market connectivity mechanisms, particularly through the Stock Connect programs, which have significantly increased cross-border trading volumes and investor participation [1][5]. Group 1: Stock Connect Mechanism - As of September 2023, foreign capital through the Shanghai Stock Connect has reached a cumulative trading volume of 90.1 trillion RMB, with daily trading volume increasing from 4.7 billion RMB in the first month of operation to 145.6 billion RMB by September 2025 [1][5]. - The Shanghai Stock Exchange plans to further enhance the Stock Connect mechanism in collaboration with the Hong Kong Stock Exchange, aiming to improve market efficiency and attract more international investors [1][7]. Group 2: IPO and Market Performance - The Hong Kong Stock Exchange has seen a significant increase in IPO activity, with total financing reaching 182.9 billion HKD by September 2023, more than doubling compared to the same period in 2024 [2]. - Nearly half of the companies currently applying for listing are technology firms, reflecting a shift in market dynamics and investor interest [2][3]. Group 3: Trading Volume and Market Growth - The average daily trading volume in the Hong Kong securities market reached 256.4 billion HKD by September 2023, a 126% year-on-year increase [3]. - The average daily trading volume for the Shanghai and Shenzhen Stock Connects also hit record highs, with the Shanghai Stock Connect reaching 206.4 billion RMB, a 68% increase year-on-year [3][6]. Group 4: Future Developments - The Hong Kong Stock Exchange is preparing to introduce new measures for the Stock Connect, including the inclusion of REITs and a block trading mechanism, to provide more investment options for domestic and international investors [4][5]. - The exchange aims to enhance its international competitiveness and expand the offshore RMB product ecosystem, supporting the internationalization of the RMB [5][7].