AI frenzy drives Hong Kong share sales to record US$47.5 billion in Q3 despite stock sell-off
Share sales have topped US$120 billion in the third quarter as boom extends across Asia-Pacific
Hong Kong's share sales surged to a record US$47.5 billion in the third quarter, driven by an artificial intelligence-powered capital rush, despite a sharp sell-off in the city's stocks, according to Bloomberg data. Initial public offerings, placements and block trades raised the total to an annual high of US$92 billion, nearing the 2021 record of US$112.5 billion.
Chinese companies led the revival, with Alibaba Group's US$10.2 billion follow-on offering topping the list, and Zhongji Innolight's nearly US$8 billion listing in almost seven years. Other firms, like AI model maker Z.AI and chipmakers Shanghai Iluvatar CoreX Semiconductor and Shanghai Biren Technology, also returned to the market shortly after their IPO lockups expired.
The AI boom extended across Asia-Pacific, with share sales surpassing US$120 billion in the period, the most in six years. India's fundraising reached a record US$26 billion as the country staged a comeback following a tough start to 2026. Despite the surge, investors and issuers are becoming more cautious due to rising bond yields and poor deal performance.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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