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Bloomberg
Hong Kong’s equity investors are rekindling their love for the newcomers.
Four of the city’s recent listings surged on Wednesday after failing to hold on to their debut pops in 2017. Razer Inc. soared as much as 24 percent, while online car-financing provider Yixin Group Ltd. jumped 6 percent. E-book publisher China Literature Ltd. and ZhongAn Online P&C Insurance Co. rose at least 3.1 percent.
“Those stocks have already corrected quite a lot so that’s driving investors to buy them back,†said Castor Pang, head of research
at Core-Pacific Yamaichi HK. “Whether they can remain strong over the next few days is questionable. Those stocks are very volatile.â€
Both Razer and Yixin still trade below their debut price following last year’s losses. That’s even as 2017 turned out to be a good year for investors participating in initial public offerings, an index of non-US newly public companies jumped 33 percent in 2017, the best year since Bloomberg began tracking data.