AsianFin — Shares of Hong Kong Exchanges and Clearing Ltd. (0388.HK) extended their rally on Tuesday, rising nearly 2% intraday to HK$422.40 — the highest level since January 2022 — as the city’s equity market continues to benefit from a rebound in IPO activity and a broader “mini bull market” in Hong Kong stocks.

The stock has surged about 45% so far this year, reflecting growing investor confidence in the city’s capital markets and the resurgence of primary listings after a prolonged slump.

Hong Kong Financial Secretary Paul Chan said at the Bloomberg Investment Summit earlier this week that Hong Kong equities would remain resilient, citing their role in supporting both capital formation and private consumption.

The latest rally underscores renewed optimism in Asia’s premier financial hub, as regulators and policymakers work to restore the city’s appeal as a global fundraising center.