China's mainland investors have played an unprecedented role in a rally on Hong Kong's equity market that has pushed the benchmark index to its highest level since 2022. Mainland investors typically buy or sell Hong Kong-listed shares via the southbound link of the Stock Connect scheme.

High interest rates in the US, which translate directly to Hong Kong due to the territory’s dollar peg, had depressed dealmaking in the city. Coupled with its exposure to China’s economic slowdown, the city’s capital markets entered a prolonged slump.

China’s second-largest carmaker lists China International Capital Corp, Huatai Securities and GF Securities as joint IPO sponsors.

Asian equities were largely lower despite a weaker U.S. dollar overnight, as Japan outperformed and India underperformed.