Breakingviews - Hong Kong bankers play an anxious waiting game

Global banks in Hong Kong are feeding on scraps. Fewer initial public offerings in the city mean institutions including UBS , Bank of America and Morgan Stanley are tackling smaller transactions. Three companies have sounded the gong to ring in new listings this week, but it’s nearly a year since a debut raised over $1 billion. As big deals including chip designer Arm and food delivery company Instacart cross the finish line in New York, albeit with mixed results, it will get harder for firms in the Asian hub to stomach slim pickings.