HONG KONG: The operator of the local bourse, Hong Kong Exchanges and Clearing Ltd (HKEx), has reported a sharper-than-expected 20% drop in earnings for 2002 as slumping equities took their toll on trading and investment income, and warned that the outlook remained weak.
“Given the importance of external factors to HKEx’s performance, the year ahead is likely to remain challenging, not least because of the risk of war in the Middle East, fear of terrorist activities worldwide and uncertainties over the economic performance in the US, Europe and Japan,” HKEx said in a statement.
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