Deloitte: Lowering this year's Hong Kong IPO fundraising forecast to HKD 60-80 billion

Deloitte stated that the performance of the Hong Kong IPO market in the first half of this year is still constrained by the fact that the Federal Reserve has not yet started cutting interest rates. With the lack of support from large new listings, the fundraising amount in the first half of the year was only HKD 13.1 billion, a year-on-year decrease of about 27%, hitting a new low since 2003. There were 30 new listings, slightly down by 3% compared to the same period last year. Deloitte's latest forecast predicts that Hong Kong will have about 80 new listings this year, with fundraising amounts ranging from HKD 60 billion to HKD 80 billion, a downward revision from the earlier forecast of HKD 100 billion, mainly reflecting the slower pace of interest rate cuts by the Federal Reserve than market expectations. In April this year, China's mainland issued the new "Nine Articles" to tighten the listing channels. Deloitte pointed out that the fundraising amount and number of new listings in the mainland in the first half of the year were only RMB 32.5 billion and 44, respectively, sharply down by 84% and 75% year-on-year. In terms of fundraising amount, in the first half of this year, the New York Stock Exchange and Nasdaq in the United States remained the world's top two IPO markets, with fundraising amounts of USD 79.9 billion and USD 52.8 billion, respectively. The National Stock Exchange of India ranked third with 101 new listings raising USD 32.7 billion, the Madrid Stock Exchange ranked fourth, the Saudi Stock Exchange ranked eighth, while the Shanghai Stock Exchange, Hong Kong Stock Exchange, and Shenzhen Stock Exchange ranked fifth, ninth, and tenth, respectively