Hong Kong IPO Market Heats Up with WeRide and Pony Ai Listings, Shares Drop

Chinese autonomous driving firms Pony Ai and WeRide have seen their shares drop on their Hong Kong trading debut, despite raising nearly $1.2 billion in share offerings. Pony Ai's share price fell 11%, while WeRide's fell 8%. The firms plan to use the funds for commercialization and expansion, and have expressed confidence in their long-term stock performance. The weak performance follows a drop in the companies' shares in New York on Wednesday.