SFC 2025-26 annual report says Hong Kong capital markets recorded broad-based growth across investment funds, digital assets and equities. Through March, IPO fundraising rose 272% YoY to HK$379 billion, while post-listing (follow-on) fundraising increased 18% YoY to HK$259 billion. Reforms have improved secondary-market liquidity and efficiency: average daily turnover jumped 54% to HK$258 billion, and after the first-phase minimum tick-size cut affected stocks' bid-ask spreads narrowed 38% and o

SFC 2025-26 annual report says Hong Kong capital markets recorded broad-based growth across investment funds, digital assets and equities. Through March, IPO fundraising rose 272% YoY to HK$379 billion, while post-listing (follow-on) fundraising increased 18% YoY to HK$259 billion. Reforms have improved secondary-market liquidity and efficiency: average daily turnover jumped 54% to HK$258 billion, and after the first-phase minimum tick-size cut affected stocks' bid-ask spreads narrowed 38% and order execution times shortened 26%.