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Hong Kong bank deposits jump as investors chase string of popular IPOs

October 30, 2021
Source: hksar.org hksar.org
News Snapshot:
The amount of money deposited in Hong Kong’s banks jumped in the first nine months of this year as investors targeted a series of hotly-anticipated initial public offerings (IPOs) in the city, a trend that is likely to continue, according to stockbrokers. Total deposits, in local and foreign currencies, grew 3.4 per cent to HK$15 trillion (US$1.9 trillion) at the end of September, data from the Hong Kong Monetary Authority (HKMA) showed on Friday. The increase was the result of strong demand for a string of stock flotations during the period, said Jeffrey Chan Lap-tak, a founding partner at Oriental...
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