This seems a little bit overdone to me:
HK$1.28 trillion is being tied up in the retail tranche of a single IPO of a company that apparently made an operating loss of RMB8.9 billion for the first 9 months of 2020.
To put that in context, 5 times more is being punted on Kuaishou-W's IPO than the total turnover on HKEX today (around HK$240 billion).
<IPO News>KUAISHOU-W (01024.HK) Posts $1.28T Record Subscription in Retail Offering: Wire AASTOCKS Financial News - Top News
<Feature>KUAISHOU-W (01024.HK)'s Key Operating, Financial Data (Table)