Hong Kong exchange profit jumps 56% on trading, IPO boom
The benchmark index has surged 29% driving stock and derivatives trading to records
[HONG KONG] Hong Kong’s stock exchange reported another record quarter as trading and initial public offerings (IPOs) jumped.
Net income at Hong Kong Exchanges & Clearing (HKEX) rose to HK$4.9 billion (S$824 million) in the third quarter, according to a statement on Wednesday (Nov 5). That beat a consensus estimate of HK$4.7 billion, according to a Bloomberg survey.
“HKEX continued to capture the momentum of global diversification and attractiveness of Chinese assets,” said Bonnie Chan, HKEX’s chief executive officer, in a statement.
Hong Kong is on track to set a four-year high in IPO fundraising this year, helped by an inflow in share sales from mainly mainland companies and a revival in global appetite for Chinese assets. At the same time, the benchmark index has surged 29 per cent, driving stock and derivatives trading to records.
During the quarter, the exchange recorded 54 per cent increase in core business revenue to HK$7.5 billion from trading and clearing fees.
Over the first nine months of the year, 69 companies raised a HK$188.3 billion via initial public offerings, compared with HK$55.6 billion in the same period in 2024. Secondary stock offerings hit HK$264.1 billion in the first nine months.
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The exchange had an active IPO pipeline of 297 companies as at the end of September.
Overall stock trading more than doubled in the quarter, while trading from mainland Chinese investors via a link from Shanghai and Shenzhen more than tripled.
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