The Hong Kong stock market closed in the first half of the year.$Hang Seng Index (800000.HK)$It rose by about 4% during the same period, and the new stock trading market on the Hong Kong stock market also became hot.

Data shows that in the first half of the year, the median increase of 30 newly listed stocks in the Hong Kong stock market on the first day was 6.78%, and nearly half of the new stocks increased by two digits on the first day of listing.

New stocks have returned to making money, and the enthusiasm for funding new stocks has increased.

It is worth noting that although the global IPO activity slowed down in the first half of the year, by the first half of 2024, the 30 new stocks in the Hong Kong stock market have raised a total of HK$13.178 billion, a decrease of 26.19% year-on-year.

The contraction of the IPO market has not affected investors' enthusiasm for new stocks. Instead, due to the reduction in the number of new stock price cuts and the demonstration effect of individual stock prices, confidence in new stocks has been rekindled in the market.

Data shows that in the first half of the year, the rate of new stocks breaking on the first day of listing in the Hong Kong stock market was only 30%, which is a relatively low level in the past five years and a significant decrease compared to 48% in the same period last year.

At the same time, in the first half of the year, there was a significant increase in the subscription activity of new stocks in the Hong Kong stock market. The average oversubscription ratio of new stocks was nearly 150 times, while in the same period last year, it was less than an average of 10 times.

On the other hand, as of the close of June 28, about one-third of the newly listed stocks this year have doubled compared to the issue price, which is in sharp contrast to the cold market in the same period last year.

Among them, Longfor Group, which provides vehicle monitoring services, has risen by 925.36% in total, and has once surged 17 times. However, the high concentration of the company's equity has been warned by the Hong Kong Securities and Futures Commission.$CHANGJIU HLDGS (06959.HK)$截至6月28日，主营肿瘤医疗服务的 Longfor Group 累涨280.95%；涉及AIGC概念的 $长久股份(06959.HK)$ 累计涨幅为220.69%；ICT信息技术服务供应商经纬天地(02477.HK)累涨188%。

Overall, new stocks from the TMT technology and medical industries are more sought after by capital.

In addition, among the stocks that have doubled in price, there are also cross-border e-commerce digital platform EDA Group Holdings (02505.HK), the first AI interactive marketing stock, and mobile advertising service provider Lersive (02540.HK).$CONCORD HC GP (02453.HK)$Up 280.95%; related to the AIGC concept$EASOU TECH (02550.HK)$Up 220.69%; a supplier of ICT information technology services$WELLCELL HOLD (02477.HK)$Increased by 188%.

In addition, among the stocks that doubled in price, there is also EDA Group Holdings (02505.HK), a cross-border e-commerce digital platform, the first AI interactive marketing stock, and Lersive Group (02540.HK), a mobile advertising service provider.$EDA GROUP HLDGS (02505.HK)$In addition, among the stocks that doubled in price, there is also EDA Group Holdings (02505.HK), the first AI interactive marketing stock, and Lersive Group (02540.HK), a mobile advertising service provider.$QUNABOX GROUP (00917.HK)$In addition, among the stocks that doubled in price, there is also EDA Group Holdings (02505.HK), the first AI interactive marketing stock, and Lersive Group (02540.HK), a mobile advertising service provider.$LESI GROUP (02540.HK)$.

According to the global well-known accounting firm PwC, the fundraising amount of new stocks in the Hong Kong stock market this year is expected to reach HK$60 billion, and the total number of new stocks is expected to be 70 to 80, of which three are special technology stocks.

Interestingly, the Hong Kong Stock Exchange has received 133 applications for new listings this year, of which about 51 are from the TMT industry and 28 are from the medical and health industry, accounting for nearly 60%. This also means that the new stock market in the Hong Kong stock market may continue to extend technology and growth attributes.

It can be foreseen that companies from the technology and medical industries will still be one of the main forces of Hong Kong stock IPOs in the second half of the year, and this type of industry with more growth potential may further stimulate market speculation in new stocks.

Editor/new