UBS: Hang Seng Index Needs to Stay Above 20,000 for IPO Market Recovery

What’s new: For the initial public offering (IPO) market in Hong Kong to recover significantly and be able to attract large listings, the Hang Seng Index needs to stay at least above 20,000 points, according to a top China investment banker.

The Hong Kong stock market should have bottomed out in the second quarter and is expected to improve in the second half, which is helpful to attract IPOs, John Lee Chen-Kwok, vice-chairman and head of Greater China global banking of UBS Group, told Caixin.