Hong Kong Tops India in Share Sales This Year, First Time Since 2021
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Hong Kong overtook India to become the world’s second-largest market for share sales this year, wresting the distinction for the first time since 2021 after Chinese companies such as BYD Co. and Xiaomi Corp. took advantage of rebounding stock prices.
First-quarter proceeds from initial public offerings, block sales and share placements in Hong Kong soared 11-fold from a year ago to more than $16 billion, trailing only the US, according to data compiled by Bloomberg. Indian deals nearly halved to $6.9 billion, slipping below those of Japan and the UK as the subcontinent’s stock market slumped. The last time Hong Kong was No. 2 was in the second quarter of 2021.