China Merchants Securities: Under pressure on Hong Kong stocks, it is expected to welcome the New Year's Eve market as IPO pressure eases and profits recover

The Zhitong Finance App learned that China Merchants Securities released a research report saying that Hong Kong stocks have recently weakened due to the crowding out effect of southbound capital returning to A-shares and groups due to the new public offering benchmark regulations, concerns about the wave of IPO financing, the arrival of the peak of the lifting of the ban, declining profits, and disturbances in overseas liquidity. Looking ahead, Hong Kong stocks are expected to usher in a New Year's Eve market with the return of capital to the south and weakening of group formation, the phased easing of IPO supply pressure and ban amounts, the restoration of profits, and the release of overseas liquidity.

According to the report, the scale of Hong Kong stock IPOs raised the most in the world this year. The intensive issuance of Hong Kong stock IPOs has put pressure on the financial and emotional aspects of the market. Currently, more than 300 companies are still waiting in line to go public. As a for-profit institution, the Hong Kong Stock Exchange (00388) usually does not interfere with the pace of issuance. However, the recent performance of IPOs has not been good, and the issue of the quality of IPO declarations has also attracted great attention from the supervisory authorities.