Hong Kong stock exchange operator 3Q profit jumps 52%


  • Markets
  • Wednesday, 11 Nov 2020

Hong Kong Exchanges and Clearing's (HKEX) profit for the three months ended September was HK$3.45 billion ($445 million), up from HK$2.2 billion a year ago.

HONG KONG: Hong Kong's stock exchange operator posted a 52% rise in third-quarter net profit on Wednesday, lifted by higher trading revenue and listing fees.

Hong Kong Exchanges and Clearing's (HKEX) profit for the three months ended September was HK$3.45 billion ($445 million), up from HK$2.2 billion a year ago, it said in a filing to its subsidiary, the Stock Exchange of Hong Kong.

Trading volumes were boosted by a slew of large listings on the bourse this year, including secondary listings by New York-listed names like Chinese tech firms Netease and JD.com

Trading revenue, which accounts for the largest share of HKEX's revenue, was 40% higher in the three month period than a weak quarter a year before when anti-government protests weighed on sentiment in Hong Kong.

However, the bourse last week suffered a setback in its bid to top global initial public offering (IPO) league tables after Ant Group's record joint Hong Kong, Shanghai listing was suspended at the last minute.

"With robust trading volumes, a strong IPO pipeline, and an expanding product portfolio, I am confident that HKEX will play an increasingly important role in global markets," said HKEX chief executive Charles Li, in the filing. - Reuters

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