Hong Kong Exchange rides trading, IPO surge to record profit

Investors have been flocking to the bourse this year, propelling its share price up by almost 50%. A number of Chinese technology firms have sold shares in the city amid concern over their U.S. listings.

HONG KONG: Hong Kong Exchanges & Clearing Ltd. posted a 1% gain in profit, benefiting from a spate of high-profile Chinese stock listings and a pick up in trading as the pandemic and political tensions stoked volatility.

First-half net income rose to a record HK$5.23 billion ($674 million), on the back of a 13% gain in core revenue, the exchange said on Wednesday. Investments slumped 45% in the period, dragging down the result.