Effects of China's regulatory onslaught felt in Hong Kong as large IPOs fall by the wayside

Hong Kong's primary-listing market is going through a dry patch in what is normally the busiest time of the year. Several potential billion-dollar initial public offerings ranging from supermarket owner WM Tech to health care start-up We Doctor Holdings have let their applications lapse in recent weeks as regulatory scrutiny and stock market weakness crimps listings. Large IPO s falling by the wayside are a further sign of how China's regulatory onslaught is causing a downturn in the financial hub's market for first-time share sales. President Xi Jinping's push to align companies with his vision of " common prosperity "…