Core Insights - Hong Kong Stock Exchange (HKEX) reported strong trading performance in the first half of 2025, achieving multiple historical highs driven by favorable market conditions and increased investor interest in non-USD assets [1] Trading Performance - The average daily trading amount in the securities market reached HKD 240.2 billion, a year-on-year increase of 118% [1] - The average daily trading volume for futures and options exceeded 1.7 million contracts, up 11% year-on-year [1] - The Hong Kong ETF market saw significant growth, with an average daily trading amount of HKD 33.8 billion, a 184% increase compared to the same period last year [1] Northbound and Southbound Trading - The trading volume for the Stock Connect (Northbound and Southbound) reached record highs for the half-year period [1] - The average daily trading amount for the Bond Connect Northbound also increased by 3% year-on-year, setting a new high [1] IPO Market - The Hong Kong IPO market continued its strong growth in 2025, leading globally in fundraising with a total of HKD 109.4 billion raised from 44 new listings, representing a 716% year-on-year increase [1] Metal Market - Despite increased volatility in the metal market due to sanctions and tariffs, the trading volume for LME metal contracts remained robust, with an average daily trading volume up 3% year-on-year [1]