HKEx suffers a 22% on-year drop in Q2 net profit 

HONG Kong Exchanges and Clearing Limited (HKEx) reported on Wednesday (Aug 17) its lowest interim profit in 5 years, but chief executive officer Nicolas Aguzin is “very optimistic” about the bourse’s long-term outlook in light of the strategic investments and listing reforms that are being initiated.

For the first 6 months of 2022, net profit fell 27 per cent on year to HK$4.8 billion, or HK$3.82 a share, on the back of a fragile global macro economic backdrop, ongoing geopolitical tensions, market volatility and the continued impact of the pandemic. Net profit for the 3 months ended Jun 30 was down 22 per cent on year at HK$2.2 billion, compared to the market consensus estimate of HK$2.5 billion. 

Aguzin told reporters in a briefing: “Though our numbers were down on the record comparable results last year, reflecting this weak overall market sentiment, we have remained resolutely focused on building our business for the long term, investing in new initiatives such as a new SPAC regime, ETF Connect and Swap Connect and market enhancements.