HK retail stock buyers pile US$163b into IPOs
Small investors in the city are jumping at the chance to buy into higher-growth industries like tech
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Hong Kong
MOM-and-pop investors haven't been this crazy for Hong Kong initial public offerings since 2009.
Hong Kong retail stock buyers placed orders for US$163 billion worth of equity in this year's major deals, according to data compiled by Bloomberg. That's equal to more than three-quarters of the territory's monetary base. The most popular was China Literature Ltd, a local take on Amazon.com Inc's Kindle Store that's risen 77 per cent since it started trading this month.
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