香港“兴”观察丨“又是被资金推着跑的一天”——一位香港金融从业者的一日见证

Core Viewpoint - The Hong Kong capital market is showing signs of recovery, with significant increases in IPO fundraising and trading activity, indicating a positive outlook for the future [1][3]. Group 1: Market Trends - The Hong Kong stock market indices are steadily rising, with IPO fundraising reaching a global peak, totaling 274.6 billion HKD as of December 19, 2023, with 106 companies listed this year [3][5]. - The average daily trading volume of exchange-traded funds (ETFs) has increased by 116% compared to the previous year, reflecting heightened market activity [6]. Group 2: Policy and Regulatory Environment - The People's Bank of China is deepening financial market connectivity between the mainland and Hong Kong, supporting the offshore RMB market and enhancing cross-border financial services [2]. - The China Securities Regulatory Commission has introduced five measures to enhance cooperation with Hong Kong's capital market, including expanding the range of eligible products for the Stock Connect program [3]. Group 3: Sectoral Developments - The launch of the Hang Seng Biotechnology Index futures provides a risk hedging tool for the biotech sector, improving the financing environment for biotech companies [3]. - The introduction of a dedicated listing channel for technology and biotech companies has made it easier for these firms to go public, contributing to a 52% increase in new listings compared to the previous year [5]. Group 4: Future Outlook - The capital market is undergoing structural upgrades, shifting from traditional sectors to a focus on new economy enterprises, which is expected to attract more global capital [5][6]. - The Hong Kong government aims to leverage its institutional advantages to solidify its status as an international financial center, as stated in the Chief Executive's policy address [6].