Group 1 - By July 2025, 10 cross-border ETF products have been listed under the China-Singapore ETF mutual recognition mechanism, with total assets under management exceeding 3 billion RMB [1] - The Singapore Exchange (SGX) has seen a total revenue increase of 11.7% year-on-year to 12.982 billion SGD, with net profit reaching 6.480 billion SGD, marking a historical high [3] - Approximately 20% of the 600 listed companies on SGX, with a total market capitalization exceeding 600 billion USD, are from Greater China, covering various sectors including industrial, consumer, and REITs [3] Group 2 - The Singapore market is particularly suitable for companies looking to expand in Southeast Asia and seek medium to long-term growth opportunities, as evidenced by NIO's secondary listing on SGX [3][4] - Despite the limited liquidity and smaller market size compared to Hong Kong, SGX's regulatory advantages and currency flexibility are attractive for Chinese companies optimizing their international capital structure [4] - SGX is evolving into a strategic hub for Southeast Asia, allowing companies to leverage both Hong Kong and US markets for greater financing and global capital access [4] Group 3 - SGX has signed a memorandum of understanding with the Shanghai Stock Exchange for ETF mutual recognition, with the first Singapore dollar-hedged ChiNext Index ETF listed in July 2025 [5] - The mutual recognition of ETFs provides efficient investment channels for global investors and supports the internationalization of Chinese enterprises [5] - SGX is also focusing on enhancing liquidity for small-cap stocks and has allocated 20% of the 5 billion SGD "Securities Market Development Plan" to improve liquidity in this segment [5] Group 4 - SGX has optimized its framework for secondary listings, making it easier for companies listed on the Shanghai and Shenzhen stock exchanges to reach international investors [6] - The exchange emphasizes that an IPO is just a part of a company's journey, providing systematic and long-term support before and after the listing [6] Group 5 - International investors maintain a constructive view on the Chinese market, with increased activity in MSCI China A50 index futures and foreign exchange derivatives [7] - There is sustained interest in traditional sectors like manufacturing and infrastructure, as well as in new energy and technology innovation sectors [7] - Geopolitical factors and regulatory changes are key concerns for international investors, leading some to adopt selective investment strategies through ETFs and index products to mitigate risks [7] Group 6 - The ongoing deepening of China-Singapore capital market cooperation and product innovation in sectors like technology, consumption, and REITs positions SGX as an increasingly important player in the internationalization of Chinese enterprises [8] - The value of SGX as a "Southeast Asia springboard" is being reassessed by more companies in the context of changing geopolitical economic landscapes [8]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) will continue normal trading operations despite the impending arrival of Typhoon Haikui, following the implementation of severe weather trading measures a year ago [3]. Group 1: Weather Impact on Trading - The Hong Kong Observatory issued a No. 8 tropical cyclone warning signal as Typhoon Haikui approaches, with expectations of worsening wind conditions [1]. - The HKEX has been authorized to maintain trading during severe weather since September 23, 2023, allowing for market operations even under adverse conditions [3]. - The Financial Secretary of Hong Kong, Paul Chan, confirmed that the government is prepared for the typhoon and is coordinating with financial regulatory bodies to monitor market conditions [3]. Group 2: Operational Preparedness - HKEX has advised market participants to prepare for operations during severe weather, including adjusting manpower and operational resources [4]. - Securities brokers are encouraged to ensure sufficient banking services and electronic transfer limits to handle daily operations during severe weather trading days [5]. - Investors are advised to familiarize themselves with electronic trading platforms and services provided by their banks or brokers during adverse weather conditions [6]. Group 3: Employee Arrangements - Employees of securities firms or banks should be well-versed in remote access to company systems and discuss work arrangements during severe weather with their employers [7].

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) will maintain normal trading operations despite the approach of Super Typhoon Haikui, following the implementation of "trading during inclement weather" measures approved a year ago [4]. Group 1: Weather Impact and Trading Operations - The Hong Kong Observatory issued a No. 8 tropical cyclone warning signal as Super Typhoon Haikui approaches, with expectations of worsening weather conditions [1]. - The Financial Secretary of Hong Kong, Paul Chan, stated that the government is prepared for the typhoon and has activated a coordination center to ensure smooth financial market operations under extreme conditions [4]. - The "trading during inclement weather" policy has been in effect for one year, allowing the market to operate under severe weather conditions, which has been practiced successfully [4]. Group 2: Recommendations for Market Participants - HKEX has urged market participants to prepare for trading during inclement weather, advising them to adjust operational and human resources accordingly [5]. - Securities brokers are advised to ensure sufficient banking services and electronic transfer limits to handle daily operations during inclement weather trading days [6]. - Investors should familiarize themselves with the electronic trading platforms and services provided by their banks or brokers during inclement weather trading days [7].

Core Insights - Deloitte projects that by the first three quarters of 2025, the Hong Kong Stock Exchange (HKEX) will see 66 new listings, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [2][3] - The report highlights a significant increase in new listings and financing in Hong Kong, driven by policies encouraging mainland enterprises to list in Hong Kong and improved liquidity from international capital inflows [2] - The number of new listings in Hong Kong is expected to increase by 47% compared to the same period last year, with financing amounting to over 228% growth [2] Market Trends - The Hong Kong IPO market is experiencing strong momentum, with several large and mega H-shares successfully listed, contributing to a substantial increase in new stock financing [2] - The report anticipates that by the end of 2025, there will be over 80 new listings on the HKEX, with total financing expected to reach between HKD 250 billion and HKD 280 billion [3] - The influx of overseas capital is significantly boosting trading volumes in the Hong Kong stock market, leading to a continued recovery in valuations [3]

Group 1 - Deloitte projects that the Hong Kong Stock Exchange will have 66 new listings in the first three quarters of 2025, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [1][2] - The report indicates that the Hong Kong IPO market is benefiting from policies encouraging mainland leading companies to list in Hong Kong and the optimization of the new listing application approval process, leading to a significant improvement in liquidity and a steady recovery in market valuations [1] - In the first three quarters of this year, Hong Kong is expected to see 66 new listings, a 47% increase from 45 last year, with total financing rising 228% from HKD 55.6 billion to HKD 182.3 billion [1] Group 2 - Deloitte anticipates that over 80 new listings will occur on the Hong Kong Stock Exchange in 2025, with total financing expected to reach between HKD 250 billion and HKD 280 billion, including at least 5 super-large IPOs by the end of the year [2] - The influx of overseas capital into Hong Kong is significantly boosting trading volumes and valuations, while policies supporting mainland companies listing in Hong Kong and simplifying the listing process for A-share companies are attracting large and super-large IPOs to the market [2]

Group 1 - Deloitte projects that the Hong Kong Stock Exchange will have 66 IPOs in the first three quarters of 2025, raising HKD 182.3 billion, making it the largest IPO financing exchange globally [1][2] - The report indicates that the Hong Kong IPO market is benefiting from policies encouraging mainland leading companies to list in Hong Kong and the optimization of the new listing application approval process, leading to a significant improvement in liquidity and a steady recovery in market valuation [1] - In the first three quarters of 2025, the number of new listings in Hong Kong is expected to increase by 47% compared to the same period last year, with total financing rising by 228% [1] Group 2 - Deloitte's partner Ren Shaowen highlighted that the influx of overseas funds into Hong Kong is significantly boosting trading volumes and valuations, allowing Hong Kong to maintain its position as the top global IPO financing market [2] - For the entire year of 2025, Deloitte anticipates over 80 IPOs on the Hong Kong Stock Exchange, with total financing expected to reach between HKD 250 billion and HKD 280 billion, including at least five super-large IPOs by the end of the year [2]

Group 1 - The Hong Kong Observatory is assessing whether to issue a higher tropical cyclone warning signal between 11 PM tonight and 3 AM tomorrow [1] - The Hong Kong Stock Exchange has reiterated that trading will proceed as normal [1] - The Financial Secretary of Hong Kong, Paul Chan, has activated the coordination center under the Financial Services and the Treasury Bureau to ensure smooth operation of all aspects of the financial market under extreme conditions [1]

Group 1 - Hong Kong's capital market has emerged as a "dark horse" in the global IPO landscape since 2025, with a fundraising amount of HKD 107.1 billion in the first half of the year, expected to exceed HKD 220 billion for the entire year, reclaiming the top position globally [2][3] - The "A+H" dual listing model has become normalized, with major A-share companies like CATL and Hengrui Medicine listing in Hong Kong, creating an IPO matrix of "large enterprises + hard technology + new consumption" [3] - The introduction of the Chapter 18C and "Special Line for Tech Companies" policies has lowered the entry barriers for unprofitable tech firms to list in Hong Kong, allowing AI companies to successfully go public [3][5] Group 2 - The active IPO market in Hong Kong reflects a global capital reallocation towards Chinese core assets, driven by a reduction in stock stamp duty and an increase in family office assets [4] - Companies in advanced manufacturing, such as Sanhua Intelligent Controls and Lens Technology, have achieved valuation recovery through the Hong Kong market, showcasing its efficiency for "tech + production" firms [5] - The consumer and pharmaceutical sectors have seen significant activity, with brands like Mixue Ice City and Hengrui Medicine attracting substantial institutional support, indicating a rebuilding of market trust in the biotech sector [5] Group 3 - Hong Kong is transitioning from a "follower" to a "rule-maker" in the IPO space, implementing differentiated strategies to build a competitive edge against Nasdaq and NYSE [6] - The deepening of mutual connectivity, such as the Bond Connect, has solidified Hong Kong's position as a key investment channel, with a notable increase in foreign holdings of Chinese bonds [6] - The IPO market in Hong Kong is forming a positive cycle of "institutional innovation - capital inflow - industrial upgrading," with expectations of significant new listings and capital influx [6]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has issued a statement advising market participants to make early operational and human resource adjustments in response to the approaching "Hagupit" storm, with the Hong Kong Observatory expected to issue a No. 8 gale or storm signal at 2:20 PM [1] Group 1: Operational Guidelines - HKEX will maintain normal trading hours for the securities and derivatives markets, including the Shanghai-Hong Kong Stock Connect, during the issuance of a No. 8 or higher gale/storm signal, black rainstorm warning, or extreme conditions warning [1] - Market participants are encouraged to refer to established severe weather trading arrangements to support stable market operations [1] Group 2: Recommendations for Investors - Investors should familiarize themselves with the electronic trading platforms and transfer channels provided by banks and securities brokers [4] - It is important for investors to understand the services offered by banks and securities brokers on severe weather trading days [4] Group 3: Employee Preparedness - Employees of securities brokers or banks should be well-acquainted with remote access to company systems and the HKEX systems if necessary [7] - Employees are advised to discuss work arrangements with employers in light of severe weather conditions and to make relevant preparations to respond to potential weather changes [7]

Group 1 - Deloitte anticipates over 80 IPOs in Hong Kong this year, raising between 250 to 280 billion HKD, an increase of 25-40% from the previous forecast of 200 billion HKD [1] - The increase in IPO fundraising is attributed to a favorable capital market in Hong Kong, prompting A+H companies to accelerate their listing plans, with each raising over 1 billion USD (approximately 7.8 billion HKD) [1] - The Hong Kong Stock Exchange (HKEX) is expected to maintain its position as the global leader in IPO fundraising for the year, as the fundraising amount has been adjusted to 250 to 280 billion HKD, significantly ahead of the second-ranked New York Stock Exchange [1] Group 2 - The potential IPOs of Fannie Mae and Freddie Mac, which could be the largest in history, are mentioned, but their listing is unlikely to occur in the fourth quarter of this year due to legislative requirements [1] - The long-term possibility of the two government-sponsored enterprises going public is acknowledged, but immediate prospects for a fourth-quarter listing are deemed low [1]