HKEX half-year earnings climb to HK$5.2b

Hong Kong Exchanges and Clearing reported a net profit of HK$5.23 billion, for the first half, up by 1 percent from the year before.

For the six months ended June 30, revenue and other income was HK$8.78 billion, higher by 2 percent.

HKEX declared an interim dividend of HK$3.71 per share, representing 90 percent of the profit attributable to shareholders.

Average daily turnover in the securities market (HK$117.5 billion) increased by 20 percent year-on-year. The average daily volume of futures and options traded in the derivatives market (1,175,231 contracts) was broadly in line with the same period last year, HKEX said.

Chief Executive Charles Li Xiaojia, said, the bourse had a very good first half, set against a turbulent and volatile macro backdrop.

“High cash market turnover, record Stock Connect volumes and a notable number of IPOs, including a number of sizeable secondary listings, offset softness in investment income which was impacted by swings in global portfolio valuations during the period,'' he said in a statement.

“We remain on track with our strategic plan 2019-2021, well-placed to capture future growth opportunities, and focused on managing our costs and risks. With robust trading volumes, a strong IPO pipeline, and an expanding product portfolio, including the suite of newly launched MSCI index futures, I am confident that HKEX will continue to play a major role in connecting China and connecting the world.”

Shares fell by more than 1 percent as of 1:40 pm despite posting a record high first-half revenue.

Stock Connect revenue and other income reached a record half-yearly high of HK$743 million, up 46 percent from a year ago. Stock Connect Northbound and Southbound ADT reached record half-yearly highs of 74.3 billion yuan and HK$20.7 billion respectively.