Hong Kong’s stock rally faces a looming test, as year-end expirations of share‑sale restrictions threaten to spur volatility and prompt investors to lock in gains.
A total of 28 companies that listed in the city over the past year will see selling curbs on some early investors — and others including management and controlling shareholders — expire between Wednesday to year-end, potentially freeing up stock worth about HK$193.8 billion ($24.9 billion), according to Bloomberg-calculated data based on Tuesday’s closing prices.