Hong Kong Exchange Operator HKEx Drops 30% in Quarterly Net Profit
According to the results of the 3rd quarter, the net profit of the operator of the Hong Kong Stock Exchange – Hong Kong Exchanges & Clearing Ltd. (HKEx) – fell by 30% and amounted to 2.26 billion Hong Kong dollars ($287.9 million) compared to 3.25 billion Hong Kong dollars in the same period a year earlier.
According to the company, its revenue in July-September decreased by 23% – to 3.94 billion Hong Kong dollars due to a decrease in exchange and clearing fees.
At the end of September, the stock exchange was considering 144 applications for the initial public offering in Hong Kong.
The volume of the average daily turnover of shares traded on the stock exchange in the 3rd quarter fell 1.7 times in annual terms and amounted to 97.6 billion Hong Kong dollars.
HKEx shares are falling in price during trading today. Since the beginning of the year, the company’s capitalization has fallen by 44.4% to 319.08 billion Hong Kong dollars.