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Hong Kong IPOs surge 40% in first half despite political turmoil

Analysts expect looser rules on biotech companies to maintain momentum

Hong Kong market watchers expect a strong run of IPOs in the second half of 2019. (Photo by Ken Kobayashi)

TOKYO/HONG KONG -- Initial public offerings in the Hong Kong market surged during the first six months of 2019, despite concerns about the city's relationship with mainland China and the outbreak of mass protests.

Nearly 70 companies went public on the Hong Kong stock exchange's main board, the highest number in the last five years, according to financial consultancy KPMG. The tally was up about 40% from the same period a year earlier.

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