bruising selloff in the city’s stocks. Initial public offerings, placements and block trades raised $47.5 billion in JulySeptember, the biggest haul ever for the period, according todata compiled by Bloomberg. That pushed fundraising this year above $92 billion and within reach of the $112.5 billion record set in 2021, though the recent surge in bond yields and poor deal performance are making investors and issuers more cautious. AI has been at the heart of Hong Kong’s deal revival, but this summer brought a new level of intensity.