0415 GMT - Hong Kong equities' big investors are increasingly from mainland China instead of foreign funds, HSBC analysts say in a research note. Mainland investors have bought US$103 billion of Hong Kong equities so far this year through the Southbound Stock Connect program, the highest annual flow since its launch. However, this is still just a small portion of money that could flow into the equity market as HSBC estimates Chinese households hold at least US$6 trillion of "excess cash." The cash pile also explains the resurgence of Hong Kong's IPO market. "Hong Kong will increasingly be used by Chinese households as a gateway to global and regional investments," they add.(sherry.qin@wsj.com)
(END) Dow Jones Newswires
July 28, 2025 00:15 ET (04:15 GMT)
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