Shares in technology group NetEase surged on their Hong Kong debut following a $2.7bn secondary offering, as tensions between Washington and Beijing prompt more Chinese companies to raise cash in the city.
In early trading on Thursday the company’s stock jumped by as much as 10 per cent as China’s biggest maker of online video games found strong investor demand. The shares closed 6 per cent higher.
Hong Kong’s stock exchange is expected to benefit due to a flare-up in US-China frictions. Several big companies from the world’s second-largest economy have lined up so-called “homecoming” listings in the city as the Trump administration increases pressure on Chinese companies that trade in US markets.
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