Southbound Stock Connect flows hit record US$151.8 billion by March,fueled by a wave of IPOs in Hong Kong. This surge shows rising confidence among mainland Chinese investors in city's financial scene,as per the latest annual report from Securities and Futures Commission (SFC),released Wednesday.
Mainland investors snapped up HK$1.19 trillion in Hong Kong-listed shares during this time. Average daily turnover of southbound trades soared 84% year-on-year,reaching HK$124.1 billion. Now 24% of total market turnover in Hong Kong,up from 20% last year.
Kelvin Wong Tin-yau, SFC chairman, pointed to macroeconomic uncertainty,geopolitical shifts as key factors shaping global capital flows. He stressed Hong Kong's role as financial bridge between mainland,global market. “Amid emerging challenges, the SFC will stay focused on its strategic priorities to entrench Hong Kong’s irreplaceable position as financial gateway bridging the mainland and the world,” Wong said.
SFC CEO Julia Leung Fung-yee echoed this,pledging commitment to market resilience. “In this ever-changing landscape, we are more committed than ever to fostering resilience as a powerful engine to support market transformation and technological innovation,” she said.
