Hong Kong share sales hit five-year high as AI boom fuels fundraising

Hong Kong’s equity capital markets raised nearly $44 billion in the first half of 2026, a five-year high, driven by strong demand for AI-linked companies despite a 12% decline in the Hang Seng Index, tighter Beijing regulations, and geopolitical uncertainty. IPOs, share placements, and block trades were up 29% year over year, making Hong Kong the largest source of capital raised in Asia-Pacific. The surge was led by companies tied to the AI supply chain, including CATL and Victory Giant Technology, while more listings are expected from Luxshare Precision, Zhongji Innolight, and Baidu’s Kunlunxin unit. The trend signals that AI fundraising is offsetting broader weakness in Hong Kong equities and could continue supporting deal activity across Asian markets.