News Formal

Hong Kong's IPO market is still in a slump despite an expected rebound

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Hong Kong’s initial public listing market remains in a slump, even as analysts expect the market to recover in the second half of the year.

Hong Kong's IPO market remained weak in the third quarter of 2023, according to companies in the Big Four.

The recent IPO debut of J&T Express, a Tencent-backed Indonesian logistics service provider was lackluster. Shares opened flat and subsequently fell 1.33% in Friday morning trade."The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes. Many IPO candidates continue to wait-and-see for a turnaround in market valuations while preparing and planning their offerings," said

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 288. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs anticipates market recovery following IPO downturnGoldman Sachs anticipates market recovery following IPO downturn
Source: Investingcom - 🏆 450. / 53 Read more »