The Hong Kong Stock Exchange recently announced that in the first half of 2025, investor sentiment will rebound, and a large number of high-quality companies will raise funds through the Hong Kong market, driving significant growth in the Hong Kong equity financing market and leading the world in financing amount. According to Dealogic, a global financial data provider, the amount of new stock financing in Hong Kong reached $14.1 billion in the first half of 2025, an increase of 695% compared to the same period in 2024, far exceeding the 8% year-on-year increase in global new stock financing. The Hong Kong Stock Exchange stated that the Hang Seng Index led the world in the first half of this year. The enthusiasm of international and mainland Chinese investors for investing in Hong Kong stocks has driven the Hang Seng Index to rise by over 20% during the period, with the average daily trading volume of Hong Kong stocks increasing by 82% year-on-year to HKD 240 billion. The amount of new stock financing in Hong Kong in the first half of this year has exceeded the annual level for each of 2022, 2023, and 2024. The analysis of the Hong Kong Stock Exchange believes that the listing of large new stocks drives market performance. In May, CATL issued H-shares for listing in Hong Kong, raising up to 5.3 billion US dollars, becoming the world's largest new stock since 2023. Afterwards, the Hong Kong market welcomed three large new stocks, namely Hengrui Pharmaceutical, Haitian Flavor Industry, and Sanhua Intelligent Control, each with a financing amount exceeding 1 billion US dollars. Among the top ten global new stock issuances in the first half of 2025, the Hong Kong market holds four seats. The good market performance has driven global investors to actively participate in the Hong Kong new stock market. The new shares issued in the first half of 2025 have received active participation from international institutional investors, including long-term funds, private equity, strategic investors, hedge funds, and sovereign wealth funds from North America, Europe, and the Middle East. Retail investors are also actively subscribing, driving the demand for new stocks to repeatedly reach new highs, with some new stocks achieving oversubscription. The Hong Kong Stock Exchange stated that since July, the Hong Kong new stock market has continued its strong momentum from the first half of the year. Eight companies have successfully gone public in the first two weeks of July, and there is still a continuous stream of companies waiting for listing, further consolidating Hong Kong's position as a leading global new stock financing center. (New Society)