The flag (right) of the Hong Kong Exchanges and Clearing Limited (HKEX) is hoisted next to Chinese national flag (center) in the Hong Kong Special Administrative Region on Aug 16, 2016. (ANTHONY WALLACE / AFP)
Hong Kong Exchanges and Clearing, the city’s stock market operator, reported a mild drop in profit in the third quarter while it reached record nine-month highs in the same period.
Profit attributable to shareholders for the nine months ending Sept 30 dropped 3 percent year-on-year to HK$3.25 billion ($416 million), while revenue and other income stayed flat at HK$5.31 billion in the same period, HKEX said.
Revenue and profit reached record nine-month highs during the same period, driven by record average daily turnover (ADT) in the cash market, excellent stock connect volumes, a good initial public offering market and a very strong IPO pipeline
On the other hand, revenue and profit reached record nine-month highs during the same period, driven by record average daily turnover (ADT) in the cash market, excellent stock connect volumes, a good initial public offering market and a very strong IPO pipeline.
In the third quarter, profit attributable to shareholders reached a nine-month record high of HK$9.86 billion, 15 percent higher than the previous year. Revenue and other income also rose to a nine-month record high of HK$16.21 billion, up 15 percent compared to a year ago.
ALSO READ: HKEX's profit reaches new high in H1
The ADT of the cash market and of the northbound and southbound trading of two stock connect programs all reached nine-month record highs of HK$180.3 billion, 123.2 billion yuan ($19.3 billion) and HK$46.2 billion respectively.
The ADT of the northbound Bond Connect soared to a nine-month high of 26.2 billion yuan. At the same time, the Hong Kong stock market raised HK$285.9 billion for 73 new issuers, a record nine-month high.
“HKEX had a strong first nine months of 2021, despite a turbulent macro backdrop,” HKEX Chief Executive Officer Nicolas Aguzin said in a company statement.
“Throughout the period, Hong Kong markets remained resilient and robust, and the introduction of a range of new products, including A-share derivatives, and new market microstructure enhancements ensure that HKEX remains very well-placed to continue to play a vital role in global markets, poised and ready to capture future growth opportunities,” Aguzin added.
Copyright 1995 - 2021. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.
HONG KONG NEWS