After a record volume of share sales in April, institutional investors are starting to turn cautious on further offers believing Hong Kong's stock market may have peaked at seven-year highs, say bankers.
Long-only institutional investors the main buyers of these accelerated offerings feel that markets have peaked and are due for a correction, according to market sources.
The Hang Seng Index has climbed 16.6% so far this year up to May 7, while the Shanghai Stock Exchange Composite Index is up 27% year-to-date.
Sell-down volumes in Hong Kong hit an all-time high of $3.6 billion in April according to Dealogic data as...
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