The momentum of enterprises going public in Hong Kong remains strong, with institutions optimistic about three main investment themes in Hong Kong stocks.

In the second half of 2025, the Hong Kong Stock Exchange welcomed many companies submitting listing applications or announcing updates to their overall coordinators. In terms of queuing for IPO applications, the Hong Kong Stock Exchange has received about 200 listing applications. In contrast to the hot trend in the primary market, the Hong Kong stock secondary market also performed well in the first half of the year. However, the recent upward trend of the market index has slowed down, showing a range-bound and volatile trend. In the view of industry insiders, the continued reform by Hong Kong regulatory authorities will further enhance the competitiveness and liquidity of the Hong Kong stock market, the strong momentum of the new stock market is expected to continue, and the IPO financing scale is expected to continue to increase. In terms of investment, in the context of ample global liquidity, Hong Kong stocks are still considered a value opportunity. It is recommended to continue allocating low-volatility dividend assets as the core positions while paying attention to investment opportunities in technology, consumer, and other sectors.