Hong Kong exchange operator's Q3 profit rises 30% on investment funds gain

HONG KONG’S bourse operator on Friday (Oct 20) reported a 30 per cent jump in third-quarter profit, propelled mainly by higher net investment income from its managed funds, while trading remained subdued due to a weaker macro sentiment.

Hong Kong Exchanges and Clearing (HKEX) said profit in the three months through September rose to HK$2.95 billion (S$517.8 million) from HK$2.26 billion a year earlier.

Net investment income of its corporate funds, which gained US$360 million, was the biggest contributor to its overall profit increase.

Revenue rose 18 per cent to HK$5.08 billion, helped by a 9 per cent increase in with core business revenue, including listing and trading fees.

“The macro backdrop remains fragile, but the business is in good shape and is well-positioned to capitalise on slowly improving market sentiment,” CEO Nicolas Aguzin said in a release. REUTERS