Southbound Stock Connect flows hit record US$152bn as mainland capital floods Hong Kong IPOs

Mainland investors poured a record US$152 billion into Hong Kong-listed shares over the past year, with average daily turnover surging 84% to HK$124.1 billion. The influx underscores a revival in the city's primary market and deepening cross-border capital integration.

By Handelsavisen Newsroom · Automated 2026-06-25 02:02 UTC · 1 min read

Southbound Stock Connect flows reached an all-time high of US$152 billion over the trailing 12 months, marking a significant acceleration in mainland Chinese investment in Hong Kong equities.

The surge was driven by a robust pipeline of initial public offerings in the city, which attracted substantial capital from investors on the mainland seeking exposure to Hong Kong-listed assets.

Average daily turnover through the southbound channel jumped 84% year-on-year to HK$124.

Average daily turnover through the southbound channel jumped 84% year-on-year to HK$124.1 billion.

This volume now accounts for approximately 24% of the total trading activity in the Hong Kong market, highlighting the growing influence of mainland capital on local liquidity and price discovery.

The data reflects a broader recovery in sentiment toward Hong Kong as a financial hub, particularly in the primary market.

The revival in IPO activity has provided new entry points for mainland investors, who have increasingly utilized the Stock Connect mechanism to access these opportunities.