The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Asia market round-up: …The market may take away

Hong Kong might have cause to celebrate the PWC report: 97% of the funds raised in the Greater China region were raised in the SAR. Yet it also has much to fear. Always an emotional and volatile market, the Hang Seng Index whipsawed its way through early May after global market wobbles.

“After the first 400 points drop last week, people said: ‘OK, it’s a correction’,” says one equity syndicate head. “It fell another 200, went up 400 and now’s it’s down another 400. That’s going to hurt. People are scared.”

In the longer term, they might have more to fear from China itself, at least as far as attracting new listings goes. China’s securities regulator, the CSRC, announced in May a lifting of its ban on domestic IPOs. Its efforts to reform the capital structures of existing listed companies have paid off, paving the way for an opening of the new issues market after the Shanghai index, the largest domestic market, jumped sharply in May. Initially dual domestic and Hong Kong listings will be the order of the day. As the local market deepens, however, some domestic companies might dispense with a Hong Kong listing altogether.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree