HKEX profit jumps to record high on surging IPOs and turnover, beating market estimates
Hong Kong Exchanges and Clearing (HKEX) profit jumped to a record amid a boom in initial public offerings (IPOs) and sizzling stock market turnover in the second quarter, according to a stock exchange filing on Wednesday. Quarterly net profit for the operator of Asia’s third-largest stock market soared 21 per cent year on year to HK$5.38 billion (US$686 million), or HK$4.26 per share, higher than analysts’ estimate of HK$4.96 billion. It was the second consecutive quarter of record profit for...
After reporting record profit, CEO aims to establish a multiple-asset ecosystem and extend trading hours, starting with derivatives
Hong Kong’s bourse operator will focus on diversifying into multiple asset classes and extending its trading hours to serve international investors, in support of the city’s five-year-plan goal to strengthen its role as an international financial centre, according to its CEO.
Hong Kong Exchanges and Clearing (HKEX) in the coming years would introduce a wide range of products and platforms in fixed income, currencies and commodities, establishing a multiple-asset ecosystem, said Bonnie Chan Yiting in a post-results briefing on Wednesday.
“Hong Kong traditionally has been known to be a very strong market on the equity side,” she said. “However, because of the renewed interest of international investors to come and participate in our market, we need to put more products on our shelf.”
By the end of her renewed term, Chan said she hoped the questions asked during briefings would be about more diverse topics than the initial public offering (IPO) pipeline.
