HONG KONG: Hong Kong’s stock exchange reported its second quarterly profit decline as China’s widening crackdown on a broad range of sectors roiled markets and delayed major initial public offerings (IPOs).
Net income at Hong Kong Exchanges & Clearing Ltd (HKEX) fell to HK$3.25bil (US$418mil or RM1.7bil) in the three months through September from HK$3.35bil (RM1.79bil) a year earlier, dragged down by a drop in investment income, according to the bourse. Revenue was flat in the quarter.
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