The total market capitalisation of the companies listed on the Hong Kong Stock Exchange (HKEx) has surpassed HK$7 trillion (US$900 billion) for the first time, the exchange has revealed.
According to an HKEx spokesman, total market capitalisation hit a record HK$7.005 trillion on Wednesday, of which HK$6.94 trillion was accounted for by the main board, and HK$63.145 billion by the Growth Enterprises Market (GEM).
The spokesman attributed the growth in market capitalisation to recent listings by companies from mainland China on the Hong Kong exchange.
Last month, companies raised HK$50 billion in funds through initial public offerings on the Hong Kong exchange, a record figure for a single month. Total funds raised on the exchange during the first half of 2005 amounted HK115.4 billion, up 8% compared to the same period in 2005, although the number of deals dropped to 21 from 45.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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