HK securities industry profits at 13-year high

The total net profits of Hong Kong securities industry surged 89 percent to HK$47.6 billion last year - a 13-year high - driven by increases in net securities commission income and proprietary trading, according to the Securities and Futures Commission.

In 2020, the total value of the securities industry's transactions rose 51 percent.

At the end of 2020, outstanding margin loans totaled HK$201.9 billion, 22 percent higher than the end of 2019.

The 20 largest providers of securities margin financing accounted for 79 percent of the industry's total outstanding margin loans. The number of active margin clients rose 144 percent to 1.5 million.

Meanwhile, the SFC has reprimanded and fined Black Marble Securities HK$1.8 million for internal control failings and breaches of the SFC's code of conduct.