Hong Kong Bankers Fuel Record $47.5 Billion Summer as AI IPO Surge Defies Stock Decline

Bankers in Hong Kong abandoned summer vacations as artificial intelligence companies drove equity capital raising to historic levels in the third quarter, with offerings and placements totaling $47.5 billion—the largest haul ever recorded for the July-September period. The surge pushed 2026 fundraising past $92 billion, approaching the $112.5 billion record set in 2021, despite persistent weakness in the city's broader stock market.