Hong Kong Sees Wave of IPOs and Property Price Cuts

Hong Kong is experiencing a surge in initial public offerings and property price cuts. Chinese autonomous driving firm Momenta has launched a Hong Kong IPO aiming to raise up to $751 million. Baidu's AI chip unit Kunlunxin is targeting a $50 billion Hong Kong IPO. Meanwhile, New World and Ares have cut prices on Hong Kong office tower units by up to 57%.