China IPO market trounces the world

Active market: A pedestrian walks past a display showing the Shanghai stock index. China’s IPO market has defied headwinds such as rising interest rates and fears of a US recession. — Reuters

BEIJING: From London to Hong Kong, large initial share sales have all but dried up across the world’s major financial centres this year. But the market in China is bustling with activity.

Initial public offerings (IPOs) on mainland exchanges have climbed to US$57.8bil (RM257.3bil) so far in 2022, the largest ever for such a period, according to data compiled by Bloomberg.