Key Market Highlights
Securities Market Performance
- Total Market Capitalization: Reached HK$40.9 trillion by end-May 2025, up 5% month-over-month (MoM) and 24% year-over-year (YoY).
Average Daily Turnover (ADT):
- May 2025: HK$210.3 billion (+50% YoY).
- Jan–May 2025: HK$242.3 billion (+120% YoY).
Derivatives Activity:
- Warrants: ADT of HK$7.8 billion (+66% YoY).
- Callable Bull/Bear Contracts (CBBCs): ADT of HK$9.9 billion (+87% YoY).
- Exchange-Traded Funds (ETFs): ADT of HK$35.5 billion (+198% YoY).
- New Listings: 29 IPOs in Jan–May 2025 (+38% YoY), raising HK$77.7 billion (+709% YoY).
Derivatives Market Trends
Futures & Options: Average daily volume of 1,765,657 contracts (+13% YoY).
- Equity Index Futures: 622,753 contracts (+3% YoY).
- Stock Options: 897,710 contracts (+26% YoY).
Currency Futures:
- USD/CNH Futures: 114,001 contracts (+43% YoY).
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Detailed Statistics (May 2025)
Market Capitalization & Listings
| Metric | May 2025 | May 2024 | Change (YoY) |
|----------------------------------|--------------|--------------|--------------|
| Listed Companies | 2,633 | 2,610 | +0.9% |
| Market Cap (HK$ bn) | 409,328 | 328,940 | +24% |
| New Listings* | 10 | 6 | +67% |
*Includes GEM-to-Main Board transfers.
Trading Activity
| Product | ADT (HK$ mn) | MoM Change |
|----------------------------------|--------------|------------|
| Equities | 160,190 | -21.6% |
| Warrants | 8,177 | -4.7% |
| CBBCs | 9,731 | -0.8% |
FAQs
Q: How does 2025’s IPO fundraising compare to 2024?
A: Jan–May 2025 saw HK$77.7 billion raised via IPOs, a 709% surge over 2024’s HK$9.6 billion.
Q: What drove the 50% YoY rise in May’s ADT?
A: Increased retail and institutional participation in ETFs (+198%) and derivatives (+13–87%).
Q: Which derivatives products grew the most?
A: USD/CNH Futures (+43%) and Stock Options (+26%) led YoY growth.
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Top Market Records
Highest Closing Values (Hang Seng Index)
| Rank | Date | Closing Index |
|------|------------|---------------|
| 1 | 2018/01/26 | 33,154.12 |
Largest Single-Day Turnovers
| Rank | Date | Turnover (HK$ bn) |
|------|------------|-------------------|
| 1 | 2025/04/07 | 621.0 |
Data as of May 31, 2025. Figures are provisional and subject to revision.