Shares of Chinese mainland property developer China Aoyuan Property Group Ltd rose 17 percent on Tuesday in Hong Kong after the company's US$467 million initial public offering drew strong demand.

The company's shares were indicated at HK$6.10 in pre-market trade, compared with an IPO price of HK$5.20 each, which was at the top of an indicated range.

Credit Suisse and Morgan Stanley sponsored the deal.

In a weaker debut, shares in Chinese online games and application software company Kingsoft Corp Ltd rose 8 percent after the company's US$98 million IPO.

Kingsoft's shares were indicated at HK$3.90 in pre-market trade, compared with an IPO price of HK$3.60 each, which was at the top of an indicated range.

Deutsche Bank and Lehman Brothers were the sponsors.

The debuts came a day after a disappointing first-day performance from SOHO China Ltd, which finished up 15 percent.