Hong Kong Exchanges and Clearing sees artificial intelligence and mining as the two main sectors driving initial public offering activity. According to Sina Finance, Hong Kong Exchanges market head Yu Xueqin said nearly 400 to 500 companies are waiting to list, and that technology remains the main growth driver.

Yu made the remarks on Friday at an Asian Securities Industry and Financial Markets Association conference in Hong Kong. He said mining is another "quite active" sector, and that of the 118 companies listed through September this year, 75% of the funds flowed into AI or TMT sectors.

He also said changing the settlement cycle to T+1 would affect many things, and that shortening it by one day may sound simple but is not. Hong Kong Exchanges and Clearing will conduct similar research into the possibility of extending trading hours, while derivatives markets currently trade until 3 a.m.