Zhong Zheng Wang·2025-12-22 10:19Core Insights - In 2025, the Hong Kong stock market achieved the highest fundraising amount globally, with a significant increase compared to the previous year [1] - The average daily trading volume in the cash market reached a historical high of HKD 230.7 billion in the first 11 months of 2025, representing a 43% increase year-on-year [1] - A total of 106 companies were listed on the Hong Kong Stock Exchange by December 19, raising a total of HKD 274.6 billion, with four companies making it to the global top ten IPOs of 2025 [1] - Companies listed on the Hong Kong Stock Exchange raised USD 66 billion through refinancing [1] - The Hong Kong market successfully attracted numerous international investors, driven by the innovation wave from mainland China, with strong demand for both new and refinancing issuances from funds in Asia, Europe, the Middle East, and North America [1]