Wall Street reaps commissions bonanza from flood of Chinese IPOs

Businesses chase funds in US, undeterred by diplomatic freeze

20200923N NYSE photo

The New York Stock Exchange: the U.S. market has drawn a record number of Chinese listings so far this year. (Photo by Kazunari Yokota)

RYO IGAWA and YUSHO CHO, Nikkei staff writers

TOKYO/SHANGHAI -- U.S. brokerages earned record commissions from Chinese companies in the first eight months of 2020, as businesses and investors alike seek a slice of the booming American stock market.

Chinese companies paid over $600 million in commissions to U.S. brokerages for stock issuances in January-August, up 80% from a year earlier, according to Refinitiv.

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