Worst quarterly profit since China crackdown

Tight scrutiny: Pedestrians walk past the Exchange Square complex which houses the HKEX. The results mark its third straight drop in quarterly profit. —Bloomberg

HONG KONG: Hong Kong’s stock exchange reported its worst quarterly earnings in two years as China tightened scrutiny on offshore listings and widened a crackdown that has roiled markets and hit trading.

Net income at Hong Kong Exchanges & Clearing Ltd (HKEX) dropped 8.6% in the three months through December to HK$2.67bil (US$342mil or RM1.44bil) from a year earlier.