HSBC’s Top Banker Sees Muted Recovery for HK Stock Offerings

(Bloomberg) -- Hong Kongs sluggish IPO market isnt likely to recover until at least the second half of this year, even as investment flows to China show signs of rebounding, according to HSBC Holdings Plcs top investment banker. ..

I dont see evidence of it picking up yet," said Greg Guyett, chief executive officer for global banking and markets at the London-based lender..

Guyett, who will be in Hong Kong for HSBCs inaugural Global Investment Summit that kicks off Monday, sees growing evidence of foreign investor interest in China as the nation finds a bottom" for its economy. ..

While many global banks have been cutting staff, HSBC isnt reducing investments in its people in Hong Kong and China as it wants to be in position" for a recovery, according to Guyett..

Guyett said he has no concerns about a new security law passed last month in Hong Kong that has prompted fresh warnings from the US, Europe and the UK that it could muzzle open discussion. Hong Kong has the ingredients to remain an important financial center, he said..

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