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Staff reporter

Hong Kong Exchanges and Clearing (0388) chairman Carlson Tong Ka-shing said he remains cautiously optimistic toward the city's initial public offering fundraising this year, amid the ongoing interest among mainland-listed firms for second listings in the city.

Speaking at a ceremony to mark the launch of trading in the Year of the Snake, he noted that the bourse operator is processing over 100 listing applications and that it received about 30 listing applications last month, of which 10 were from mainland listed enterprises.

In January, eight companies made their trading debut in Hong Kong, with an average daily turnover of HK$150 billion, Tong said, adding that Western investors have returned to the Hong Kong market.