H. Kong’s HKEX profit surges on strong Q3 trading

Hong Kong’s stock exchange operator, Hong Kong Exchanges and Clearing Ltd (HKEX), reported a seven per cent increase in third-quarter profit, reaching HK$3.15 billion ($405.30 million) compared to the same period last year.

This exceeded analysts’ expectations and was driven by China’s stimulus measures and global central bank interest rate cuts, boosting trading volumes.

HKEX shares surged 3.7 per cent in the afternoon session following the earnings release, later settling at a two per cent increase by 0600 GMT. This outperformed the 1.28 per cent rise in the Hang Seng Index.

HKEX reported a record third-quarter revenue of HK$4.85 billion, up six per cent from the previous year, driven by increased trading and clearing fees.

Attribution: HKEX report, Reuters

Subediting: M. S. Salama