The Hong Kong Exchange and Clearing, the operator of the city stock exchange, just had its busiest day in nearly two years. A total of seven companies officially launched their initial public offerings (IPOs) on Thursday, an event that provided a much-needed boost to the city as it continues to recover from the months of social unrest last year.

The listing of the seven companies is currently the exchange's second-largest number of listing in a single day. The most number of companies listed with the exchange happened in July 2018, where eight companies had simultaneously launched their IPOs.

During the launch of the IPOs, executives, bankers, accountants, and lawyers involved in the listings all gathered at the exchanges trading hall to witness the listing of their respective companies. Company representatives typically sound a ceremonial gong to announce the official listing of shares. However, as the exchange only had four gongs, representatives from the seven companies were forced to share the honor of sounding the gongs.

The seven companies that listed their shares in Hong Kong yesterday were Values Cultural Investment, Activation Group Holdings, Sanvo Fine Chemicals Group, Kwung's Holdings, QP Group, Shanghai Gench Education Group, and Huijing Holdings Company. The companies, which provide services and products in industries such as television and furniture manufacturing, managed to raise a combined $341 million from the sale of their shares.

The top performers from the newly listed companies include Values Cultural, which saw its share prices surge by 40 percent above its initial IPO price of HK$0.50. Following behind is Shanghai Gench, whose shares surged by 14 percent to HK$6.81 per share. Unfortunately, not all of the seven companies had fared well during their first day. Kwung fell the most, dropping 25 percent below its IPO price to HK$0.96 per share. The company was followed by Activation Group, which fell by 22 percent to HK$1.57.

The launch of the seven IPO brings the HKEX's total number to 22 stock offerings so far this year, giving it comfortable lead against competitors such as the NASDAQ and the New York Stock Exchange. One of the best performing stock among the 22 stock offerings so far this year is restaurant chain operator Jiumaojiu International Holdings. Since it's listing just a day prior to the seven IPOs, the company has seen its stock prices surge by over 56 percent.

The increasing number of IPOs in Hong Kong has been seen as a clear sign of the rising confidence in Asia's third-largest capital market despite the economic and geopolitical challenges facing China as a whole.