Toymakers build fun Hong Kong stocks a playground

Hong Kong’s long-dormant animal spirits have found a fun niche in an otherwise gloomy market. Shares in Chinese toymaker Bloks surged 82% on their Friday debut, thanks to overwhelming demand in the city. The $2 billion firm, which specialises in assembling Transformers and other figurines, is tapping into the country’s collectible toy frenzy led by Hong Kong-listed peer Pop Mart , whose stock clocked up a blistering 360% gain in 2024. It’s a welcome reminder that there are still bright spots in the beaten-down economy.