China’s regulatory crackdown on some of its biggest industries is having a knock-on effect on the post-listing performance of Hong Kong’s initial public offerings.

Shares of firms that have gone public in the financial hub this year have climbed just 4% from their offer prices on average, according to data compiled by Bloomberg on companies that raised at least US$50 million. The gains are much smaller when compared to those seen in India and South Korea, and even Thailand.

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