HKEX's Bonnie Chan Reports Strong IPO Pipeline with High-Quality Companies Filing Applications

Hong Kong Exchanges and Clearing Limited (HKEX) announced its first-quarter results for the year. Group Chief Executive Bonnie Chan stated that despite a volatile macroeconomic environment, global investors continue to seek safe havens and capture growth opportunities in Asia. The group had a strong start to 2026, with both revenue and profit reaching record highs for the first quarter. The Hong Kong IPO market maintains robust momentum, with fundraising volume continuing to rank among the global leaders. High-quality companies are actively submitting listing applications, further solidifying the group's position as the preferred fundraising platform for innovative enterprises. She noted that in the first quarter of 2026, the performance of the secondary market surpassed the strong results from the same period in 2025. There were 20 trading days with turnover exceeding HKD 300 billion, reflecting active participation from both mainland Chinese and international investors. This drove steady growth in turnover for both the southbound and northbound Stock Connect programs, with the average daily turnover for the northbound link hitting a new quarterly record. Beyond the stock market, she mentioned that the group's multi-asset platform also experienced strong growth. During the quarter, the London Metal Exchange (LME) achieved a record high in fee-paying trading volume, indicating very active trading in global metal markets. The continued growth of Swap Connect also propelled the OTC Clearing Company's clearing volume to a new quarterly high. Furthermore, the group's data and connectivity businesses continued to support the healthy development of the markets, enhancing the resilience and capacity of the market infrastructure. She added that the group is also progressing with various strategic initiatives to improve market quality, strengthen infrastructure, and provide more choices for investors and issuers. These initiatives include the second phase of reducing the minimum bid-offer spread for stocks, further market structure optimizations, a market consultation on enhancing the competitiveness of the listing regime, and the launch of new products and indices to enrich Hong Kong's market ecosystem. Looking ahead, the group will continue to deepen regional connections, expand market participation, and invest in building a resilient and innovative multi-asset ecosystem to ensure its markets can seize opportunities throughout any market cycle.