Hong Kong looking at more steps to boost stock market, says Lee
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Hong Kong's leader John Lee said the authorities are considering additional measures to bolster the securities market in the Asian financial hub. The city's economy expanded by just 3.2 percent last year, and capital flight turned the Hong Kong stock market into the worst-performing major index last year. Lee mentioned that a host of measures had already been taken, including improving the listing regime for specialized technology companies, to enhance competitiveness. Hong Kong's Hang Seng Index tumbled nearly 14 percent in 2023, its fourth consecutive year of decline. The value of initial public offerings (IPOs) dropped 28.5 percent in the first quarter of this year compared to the year-ago period to US$507 million. Hong Kong announced a mix of measures in February to lure back capital, businesses, and visitors to the city. Hong Kong has been a crucial gateway for investments in mainland China, and the Hong Kong government is now lobbying the mainland to introduce a new connect program to deepen investor access to each other's markets. The three-day HSBC summit in Hong Kong kicked off on Monday, bringing together over 2,000 delegates. HSBC Chairman Mark Tucker said that Hong Kong would continue playing its role as a global financial center due to its vast capital markets, the strong commitment to maintain the common law system, and a "rock-solid" U.S. dollar peg.

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https://www.thestandard.com.hk/breaking-news/section/4/215144/Hong-Kong-looking-at-more-steps-to-boost-stock-market,-says-Lee