Cathay Pacific stock launch broke Hong Kong records

Cathay Pacific Airways made a stunning stock market debut in Hong Kong on May 16, 1986. The airline alone accounted for $446 million in turnover—more than the total value of all other shares traded that day. The rest of the market, however, failed to catch the same lift. The Hang Seng index fell 27 points as other stocks saw little activity. In total, 86.6 million shares changed hands for the newly listed airline.