Hopes for a Hong Kong IPO recovery hinge on two big ifs

HONG KONG -- New equity fundraising in Hong Kong sunk to a two-decade low last year amid disappointment over China's economic recovery, and some are warning that there are no signs the city's IPO market will improve in 2024.

Bankers advising on some of the big deals expected this year say they are hopeful that a mooted interest rate cut by the Federal Reserve and further recovery in China can stimulate investor appetite, but the timing of either event is far from certain.