Core Insights - The Hong Kong stock market has seen a significant influx of new listings in 2023, with 108 stocks listed and a total fundraising amount reaching 277.2 billion, positioning it as a potential global fundraising champion for 2025 [1][8] - Despite the high number of new listings, the market has shifted from a previous state of exuberance to a decline, with recent new stocks experiencing substantial drops, including one stock plummeting nearly 50% [1][8] Group 1: Market Trends - The scarcity of new stocks in the Hong Kong market has diminished, leading to a decline in market enthusiasm compared to earlier in the year [2][10] - The Hong Kong market has been in a downward trend since late September, resulting in liquidity issues and a lack of investor interest in new stocks [3][10] Group 2: Specific Stock Performance - Recent new listings have shown poor performance, with four new stocks listed on a particular day all experiencing declines of over 20%, and one stock, Ming Kee Hospital, dropping by 49.46% [2][9] - Ming Kee Hospital, which operates two private hospitals, has a very low market share of 1% in the East China region, and its subscription rate was only 5.28 times, indicating weak investor interest [3][10] Group 3: Investor Sentiment - The concentration of shareholding in new listings can lead to volatility, as seen with the significant drop in shares of a cornerstone investor, He Fu China, which fell nearly 9%, causing panic among investors [4][11] - The overall sentiment in the market has shifted towards caution, with investors wary of the potential for further declines in stock prices due to the lack of demand and liquidity [3][10]
港股4只新股全部暴跌，明基医院更是闪崩近50%，发生了什么？