Hong Kong traders chased 1,600 shares in 1 to buy an IPO that went bankrupt

One of Hong Kongࢀ™s most popular initial public offerings among retail investors made a soft debut, pouring cold water on the cityࢀ™s red-hot sentiment on the new quotes. Joy Spreader Interactive Technology Ltd., a Hong Kong-based online marketing company, dropped as much as 6.3% Wednesday morning before entering the midday break at the HK $ 2.88 offer price. If the shares close below this value, it would be the first Hong Kong IPO to fall on the first day after raising more than $ 100 million and with a retail over-subscription rate of over 1,000, according to data compiled by…