Hong Kong’s IPO market ‘exceeds’ HK$140 billion amid renewed gold trading push

Hong Kong’s initial public offering (IPO) market has raised more than HK$140 billion (US$17.87 billion) as of April 2026, maintaining its position as the world’s top IPO fundraising hub, according to Financial Secretary Paul Chan Mo-po. Speaking on Sunday, Chan noted a growing number of high-quality companies leveraging the city’s financing platform for global expansion, driving robust market momentum. The average daily turnover on the Hong Kong stock exchange exceeded HK$280 billion since March, a slight uptick from HK$276.7 billion in the first quarter. According to LSEG Data and Analytics, 37 companies raised about US$13.26 billion on the exchange’s main board in Q1 alone.

Despite these strong figures, industry experts caution that Hong Kong could lose its lead to the US over the full year, citing a pipeline of mega IPOs expected there, including OpenAI and Elon Musk’s SpaceX. Meanwhile, Chan emphasized a renewed push to develop gold trading in Hong Kong, driven by rising global demand for risk diversification amid geopolitical tensions and rapid technological change. This shift reflects a broader trend among investors to reduce reliance on single markets or asset classes, positioning Hong Kong as a key hub for both traditional and alternative asset classes.